VIETNAM
Foreign Investment Reaches New High: Direct foreign investment in the country was $9.1 billion as of June 9, according to the State Committee for Cooperation and Investment. The SCCI, Vietnam’s central licensing body, has approved 944 projects since the Communist country opened its doors to foreign investment in 1989, said Pham Gia Toan, a director at the SCCI. He said 150 project licenses were revoked recently, leaving 786 projects in operation. Toan said U.S. investment commitments rose to $78.1 million, making America the 17th-largest investor in Vietnam.
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