HANOI, June 3 (Xinhuanet) -- The United States-based International Paper, well-known in the paper, packaging and wood product industry, is seeking investment opportunities in Vietnam with possible pouring of 1 billion US dollars into the country.

    If the opportunities prove great, the company, which has just met with officials from the Vietnamese Industry Ministry and the Vietnam Paper Association here, is likely to invest up to 1 billion dollars in afforestation and pulp production in the country like it has done in Brazil, according to local newspaper Investment on Friday.

    Vietnam, which has to import 80 percent of its pulp and various kinds of high-quality paper, has yet to attract any foreign-invested projects in pulp production and afforestation. It imported 228,000 tons of paper worth 142 million dollars in the first five months of this year, posting year-on-year respective surges of 43.3 percent and 87 percent, according to the country's General Statistics Office.

    International Paper has operations in nearly 40 countries and employs approximately 83,000 people worldwide and exports its products to more than 120 nations, the paper said. Enditem