ID :
44078
Wed, 02/04/2009 - 09:51
Auther :
Shortlink :
https://oananews.org//node/44078
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Plunge in foreign investment for Savannakhet
Plunge in foreign investment for Savannakhet
(KPL) Ms Khamphin , Deputy Head of Provincial Planning and Investment said that foreign investment for Savannakhet province declined by 74 per cent for the first quarter of 2008-2009 fiscal year (between October and December) compared to the same period last year, mainly because foreign investors were adversely affected by the worsening global financial crisis. The banks, she said, were afraid to lend money because they feared that they would not be able to get back their loans.
For the first quarter of 2008-2009 fiscal year, this province had six projects and the total investment for them was only US$9.5 million.
Presently, this province has 77 foreign investment projects worth US$985.27 million and the investors come from 17 countries.
China, the biggest investor in the province, has 23 projects, followed by Thailand with 18 projects and the third, Vietnam, has 10 projects. The industrial sector has 25 projects and this is only 6.16 percent of the total investment.
The other sectors, such as mining and agriculture-forestry had higher percentages, 34 and 54 per cent respectively and for the services sector it is nearly six per cent.
For this fiscal year, the foreign investment for Savannakhet investment might reach around US$305 million, Ms Khanphin said.
(KPL) Ms Khamphin , Deputy Head of Provincial Planning and Investment said that foreign investment for Savannakhet province declined by 74 per cent for the first quarter of 2008-2009 fiscal year (between October and December) compared to the same period last year, mainly because foreign investors were adversely affected by the worsening global financial crisis. The banks, she said, were afraid to lend money because they feared that they would not be able to get back their loans.
For the first quarter of 2008-2009 fiscal year, this province had six projects and the total investment for them was only US$9.5 million.
Presently, this province has 77 foreign investment projects worth US$985.27 million and the investors come from 17 countries.
China, the biggest investor in the province, has 23 projects, followed by Thailand with 18 projects and the third, Vietnam, has 10 projects. The industrial sector has 25 projects and this is only 6.16 percent of the total investment.
The other sectors, such as mining and agriculture-forestry had higher percentages, 34 and 54 per cent respectively and for the services sector it is nearly six per cent.
For this fiscal year, the foreign investment for Savannakhet investment might reach around US$305 million, Ms Khanphin said.
