In a effort to promote foreign investment in Vietnam in general and the Southern Focal Economic Zone in particular, the Saigon Times Group has cooperated with the departments of planning and investment of Vietnam's top foreign direct investment destinations-HCM City, Ba Ria-Vung Tau, Dong Nai and Binh Duong-to select the top 10 performing foreign investors in each locality for the Saigon Times Top 40 Award. The selection is held annually to honor the top 10 best performers in each field.
HCM City, Dong Nai, Ba Ria-Vung Tau and Binh Duong are the four core members of the Southern Focal Economic Zone, the economic engine of Vietnam. According to figures from the Ministry of Planning and Investment, by February 2005, the four localities had attracted US$25.8 billion, or more than half of the total registered FDI capital of US$45.3 billion in Vietnam. HCM City made up US$11.6 billion, Dong Nai US$7.8 billion, Binh Duong US$4.3 billion and Ba Ria-Vung Tau US$2.1 billion.
On January 20, the Saigon Times Group held a ceremony at the Rex Hotel, HCM City, to grant prizes to the winners of the Saigon Times Top 40 Award. The ceremony was attended by the award winners, officials from the departments of planning and investment in HCM City, Dong Nai, Ba Ria-Vung Tau and Binh Duong provinces, media representatives, and other businesspeople.
On the occasion, Le Thanh Hai, chairman of HCM City People's Committee, sent a letter of congratulation to the award winners. Here is an extract of the letter: " …I highly appreciate the initiative for the Saigon Times Top 40 Award run by the Saigon Times Group and the departments of planning and investment of HCM City, Dong Nai, Ba Ria-Vung Tau and Binh Duong over the past two years. The Saigon Times Top 40 Award is a practical recognition of the effective contribution of foreign-invested enterprises to the four localities in this region, which has attracted the highest foreign investment in Vietnam. In particular, the Top 40 Award this year is based on the criterion of high capital commitment. This is an effort to encourage stronger inflow of foreign direct investment capital to the Vietnamese economy".
