Planning and Investment Minister Vo Hong Phuc supposed that with only one-third of the investment capital falling into place, Vietnam is much likely to achieve its FDI target of US$12 billion in 2007.

Most notable is a US$5 billion project of Taiwan’s Foxconn group to build hi-tech zones in Bac Ninh and Bac Giang provinces. The group has set up a representative office in Bac Ninh province to speed up the progress of the project.

The electricity sector has a lot of big investment projects, especially a US$1.4 billion project to build coal-run thermo power plant in the southern province of Binh Thuan, which has been approved by the Prime Minister. The project investor is China’s Yunnan Power Grid Corporation.

According to the overseas investment department, many foreign investors like Posco (the Republic of Korea), Sunsteel (Taiwan), TaTa Steel and Essar (India) are very interested in a steel project (capitalized at US$3.75 billion) in central Ha Tinh province.