Foreign Direct Investment (FDI) capital was 19 percent beyond last year’s plan to reach US$20.2 billion. Especially disbursement rate was estimated at US$12.4 billion, an increase of 7.4 percent over 2013 and 2.9 percent compared to expectations.
|Inside a Piaggio assembly plant in Vietnam (Photo: SGGP)|
At the Vietnam Business Forum last yearend, deputy chairman of European Chamber of Commerce in Vietnam Tomaso Andreatta said that European investor community congratulated Vietnamese Government on successes in macroeconomic stability, which have brought advantageous business environment for several companies in the country.
Chairman of the American Chamber of Commerce Gaurav Gupta stressed that the most important thing to foreign investors was confidence, which the Vietnamese Government has created with its efforts and determinations.
In an article published on the World Economic Forum’s website, Prime Minister Nguyen Tan Dung expressed that Vietnam had a policy to continue in its efforts to attract and efficiently use FDI inflows to advance socio-economic development.
The country will give priority to FDI projects that use advanced and environmentally friendly technologies, and use natural resources in a sustainable way and it will also target projects with competitive products that could be part of the global production network and value chain, he wrote.
Vietnam considers successes of FDI companies as its own success and the Government pledged to ensure a stable socio-political environment, protect the legitimate rights and interests of investors, and create an enabling environment for FDI enterprises in the country, he affirmed.
The Government has recently agreed to add the US$22 billion Victory Nhon Hoi oil refinery project in the central province of Binh Dinh to Vietnam’s oil and gas development plan by 2015 with visions by 2025.
The project can process 20 million tons of crude oil a year. It is expected to break ground in 2017 and complete by 2021.
Its investor plans to increase the refinery’s capacity to 30 million tons a year after 2021 and investment capital to US$30 billion.
If being licensed, Nhon Hoi oil refinery will be the largest FDI project in capital scale in Vietnam.
According to the United Nations Conference on Trade and Development, global FDI capital will continue increasing to US$1.7 trillion this year and US$1.8 trillion in the following year.
Samsung is the biggest foreign investor in Vietnam now.