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US fund expects to post large investment in Vietnam

A US company is expecting to invest about one billion dollars annually to tap the Vietnamese market, newspaper Vietnam News reported Monday.

The US-based EurOrient Financial Group wishes to invest in three or four projects with one billion dollars each year. Areas of priority include transport, ports, telecommunications, power, gas and petroleum distribution networks, and financial services, the paper said. The company had reached an agreement with a local partner on a $120 million joint venture, which would develop a wind power plant in the north with capacity of 120 megawatts, and the license could be issued later this month.

With its strong economic growth and recent WTO membership, Vietnam is attracting more and more foreign companies, including American interests seeking business opportunities. (