VN attracts over $10 bln FDI capital

The Ministry of Planning and Investment reported that the country granted new investment licenses for 907 projects from beginning of the year until May 20 with a total registered capital of US$ 7.56 billion, up 155.9 percent over the same period last year.

Of these, 425 projects registered investment capital adjustment with total investment capital up to US$ 2. 59 billion, an increase of up 93, 3 percent compared to the same period of 2015. In the first five months of the year, total new registration investment capital reached at US$ 10 billion, an increase of 136, 4 percent over the same period of last year.

The FDI disbursement also was US$ 5. 8 billion, an increase of 17, 2 percent in compared to the same period of 2015. The FDI rapid growth in the previous month thanks to many large-scale projects having been granted investment licenses such as Hai Phong LG Display project with US$ 1. 5 billion investment capital, Vietnamobile project with US$ 1,248 billion

The FDI projects have operated effectively including the export value of the foreign-invested sector (including crude oil) reached US$ 48, 263 billion in five months, up to 7, 7 percent over the same period in 2015 and accounted for 71.28 percent of export turnover while the import value of the foreign-invested sector was US$ 39,155 billion, accounted for 59 percent of import turnover.

From January to May, foreign direct investment (FDI) firms saw the trade surplus of US$ 9, 108 billion.

By Anh Phuong- Translated by Huyen Huong

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