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Updated Tuesday, December 29, 2009 11:15 am TWN, Bloomberg

Pledged foreign investment to Vietnam falls 70%: report

HANOI -- Pledged foreign direct investment from overseas companies to Vietnam fell about 70 percent to US$21.5 billion this year, Lao Dong newspaper reported, citing the Foreign Investment Agency.

Disbursed foreign investment fell to US$10 billion, from US$11.5 billion in 2008, Lao Dong said. The U.S is the biggest investor this year with US$9.8 billion of pledged investment, the report said. The government expects committed foreign investment of as much as US$25 billion in 2010, the newspaper said.

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