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FDI disbursement rises by 7.6% in 12 months

  

HA NOI (VNS) — The disbursement of foreign direct investment (FDI) in Viet Nam stood at US$8.5 billion in the past eight months, a year-on-year rise of 7.6 per cent.

This was reported by the planning and investment ministry's Foreign Investment Agency. The country attracted US$13.3 billion worth of FDI during the period, up 30 per cent in comparison with the same period last year.

Among 1,608 FDI projects, including new projects with investment licences and projects whose capital increased during the period, the processing and manufacturing industry attracted the maximum FDI with 634 new projects and 290 that received more capital. Their total investment capital was $10.35 billion, accounting for 77.7 per cent of the total registered FDI capital.

Real estate businesses ranked second in attracting FDI, with 25 projects, reaching a total investment capital of $1.82 billion.

The department said exports of the foreign sector continued to be a "bright point" in the country's import and export activities, with a total export turnover of $74.6 billion during the period (including crude oil exports), a year-on-year surge of 14.7 per cent. The figure accounts for 70.2 per cent of the total export turnover of the whole country.

The Republic of Korea continued to be the top foreign investor in Viet Nam, with a total registered capital of $5.26 billion, followed by the United Kingdom with $1.25 billion.

The northern province of Bac Ninh continued to be the recipient of the largest FDI amount of $3.33 billion, followed by HCM City and Dong Nai Province.

Among the FDI projects that were granted licences during the past eight months was one by Samsung Display Viet Nam, a subsidiary of the Samsung Group, which was allowed to invest an additional $3 billion to boost display module production in its Bac Ninh plant. The plant previously had an investment of $1 billion.

Other projects include a $1.2-billion real estate joint venture in HCM City, set up by several local firms and Denver Power Ltd from the United Kingdom, and a $660-million fibre production project in Dong Nai Province that has an investor from Turkey. — VNS

 

Source: Vietnam news

 

 

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