The Vietnamese government will use the US$1 billion stimulus package as preferential loans for infrastructure, housing development, agricultural investment projects and small and medium enterprises (SMEs) for 2009 and 2010, Planning and Investment Minister Vo Hong Phuc said on December 24.

Vietnam's capital city of Hanoi has said it has licensed 300 FDI projects with total registered capital of US$5 billion, down 17.8 per cent in project numbers and up 53.3 per cent in terms of capital.

Ho Chi Minh City, the biggest city of Vietnam has to date attracted 61 foreign-invested education and training projects worth a total of US$3.58 billion.

The Vietnamese Ministry of Construction has just submitted plans to invest VND49 trillion (US$2.97 billion) into housing development projects slated for 2009 to 2015 amid the government’s efforts to boost fiscal spending to VND110 trillion.

On Dec 18, the ground breaking ceremony for the Times Square Hanoi urban centre was held in My Dinh, Hanoi.

Vietnamese agricultural experts have discusses ways to attract more foreign direct investment (FDI) in the sector from 2008 to 2015 at a seminar held by the Ministry of Agriculture and Rural Development (MARD) in Hanoi December 16.

The Asian Development Bank (ADB) will provide technical assistances worth US$26 million to help construct three expressways in Vietnam.

Vietnamese firms are forecast to invest US$1 billion abroad next year, up 25 per cent on year, the New Hanoi newspaper said on December 9, quoting the Ministry of Planning and Investment (MPI).

Vietnam plans to spent VND255 billion (US$15.45 million) on building a rural power grid system running through 12 remote districts in central highlands Dak Lak province to supply power for local ethnic minorities.

International donors had pledged US$5.014 billion in ODA for Vietnam next year at the annual CG meeting late last week, down 7.2 per cent on year as Japan said it decided to halt ODA loans for Vietnam, citing corruption scam.