FDI attraction increases 53 percent year on year

Vietnam attracted about US$17.15 billion foreign direct investment (FDI) capital during the first nine months this year, a year on year increase of 53.4 percent, reported the Foreign Investment Agency under the Ministry of Planning and Investment.

Wooden furniture manufacturing at Kaiser Furniture Company in My Phuoc 1 industrial park, the southern province of Binh Duong (Photo: SGGP)

1,432 new projects were licensed with total capital of US$11.03 billion, up 44.5 percent, and 416 projects supplemented an extra of US$6.11 billion in investment capital, up 72.6 percent.

In August and September, some big projects were licensed such as the US$2.4 billion Duyen Hai 2 thermal power project of a Malaysian investor in the Mekong Delta province of Tra Vinh.

Korean Samsung Display Company hiked investment capital by US$3 billion for its plant in the northern province of Bac Ninh.

However, up to 14 provinces and cities nationwide were unable to lure any new FDI project in the nine months. Most concentrate in the northern mountainous region comprising like Tuyen Quang, Dien Bien and Lao Cai provinces.

By Minh Tuan – Translated by Hai Mien

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