FDI capital hits record high despite long holidays in January

Vietnam’s foreign direct investment (FDI) attraction hit $1.42 billion in January, the record high compared to the same period in previous years, despite two long Tet holidays the Western New Year and Lunar New Year, the Ministry of Planning and Investment has reported.

Processing industry together with manufacturing is the leading field in FDI attraction in January 2017 (Photo: SGGP)

A total of 175 new projects were licensed with the capital of $1.24 billion, up 37.8 percent in project number and 23 percent in capital. In addition, 76 projects increased investment capital by $179.2 million, taking the total FDI capital to $1.42 billion, up 6.6 percent over a year back.

Disbursement was up 6.3 percent to reach $850 million. Of the total FDI capital, manufacturing and processing accounts for up to 67.1 percent.

On February 6th, the southern province of Ba Ria-Vung Tau granted investment certificates to four foreign and four domestic projects at a meeting with 150 businesses and some consulates’ representatives. The four foreign invested projects have the total capital of $311 million while four domestic ones have VND3.6 trillion ($159 million).

Two largest projects include a $185 million project of Heineken Vietnam Company to expand its beer plant’s capacity to 610 million liters a year. The other is a $108 million ultra white clear glass plant of Viglacera Corporation and Khai Thinh Group.

So far, the province has attracted 301 FDI projects with the total funds of $26.7 billion and 451 domestic projects worth VND245.5 billion ($10.83 billion).

The HCMC Customs Department reported that the city’s export import turnover neared US$6 billion in the first month of 2017 including $3 billion export values and $2.7 billion import.

The export import turnover at customs departments nationwide approximated $400 million since the first day of the lunar year until February 9th. The most exported items were computers, phones and components; machines, equipment and accessories; and steel products.

By staff writers – Translated by Hai Mien

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