FDI attraction forecast to hit US$15-16 billion in 2014

Minister of Planning and Investment Bui Quang Vinh believed that Foreign Direct Investment (FDI) attraction will reach US$15-16 billion in Vietnam this year.

An FDI enterprise in HCMC (Photo: SGGP)

According to reports by the Ministry’s Department of Foreign Investment, total FDI capital hit US$13.7 billion for the last ten months, accounting for 71.2 percent over the same period last year.  

Vietnam has licensed 1,306 projects with a total registered capital of US$9.95 billion as of October 20, a year on year reduction of 25 percent. 469 projects increased investment capital by US$3.74 billion.

Processing and manufacturing sectors attracted most foreign investors with 636 projects and registered capital of US$9.7 billion, accounting nearly 71 percent of the total number in the last ten months. Real estate and construction sectors were ranked the second and third.

Fifty six nations and territories have invested in 50 provinces and cities in the country. The South Korean remained the largest FDI investor, other large investors were Singapore, Hong Kong and Japan.

Ho Chi Minh City took the lead in attracting FDI, followed by Bac Ninh, Dong Nai, Binh Duong, Hai Phong and Hanoi.

In the ten months, disbursement reached US$10.15 billion, up 5.9 percent over the same period last year.

By Anh Phuong – Translated by Hai Mien

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