Vietnam's pledged foreign direct investment falls 26 percent

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Pledged foreign direct investment into Vietnam fell 26 percent this year through December 15, the Foreign Investment Agency of the Ministry of Planning and Investment said in a e-mailed statement on December 30.

Committed investment was $14.7 billion over the period, according to the statement. Disbursed foreign direct investment for the whole of 2011 was estimated at $11 billion, equal to 2010's figure, the agency said in the statement.

Vietnam has struggled to contain Asia's fastest inflation and stabilize the national currency while supporting economic expansion as the global recovery falters. Growth in the $104 billion economy slowed this year, and the government said it will keep tight monetary next year to curb inflation.

Vietnam gave licenses for 1,091 new projects with a combined registered capital of $11.6 billion from January through Dec. 15, while 374 existing projects boosted registered capital by $3.14 billion, according to the statement.

The Southeast Asian nation will focus on increasing the effectiveness and quality of foreign investment, according to the statement.

The country will also attract FDI to sectors including infrastructure, "green industry" and high technology, it said.

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