FDI in Vietnam reaches $1.2 billion in February

Foreign Direct Investment (FDI) in Vietnam has reached US$1.2 billion in February, according to the Department of Foreign Investment under the Ministry of Planning and Investment.

So far, 40 projects with a total capital of more than US$881 million have been issued new investment licences; and 20 investors have applied for expansion of existing projects at a total cost of over US$312 million.

According to VN General Statistics Office, the country’s trade gap in February is about US$800 million; export turnover has touched US$8.2 billion, increasing 15.6 per cent over the last month; and import has attained US$9 billion, presenting a month-on-month increase of 30 per cent.

In related news, the bridge upgrade project for the Hanoi-Ho Chi Minh City railroad kicked off in Quang Tri Province on February 25.

The Tekken-Yokogawa-ThangLong-Marubeni Joint Venture will upgrade seven bridges from Quang Binh Province to Thua Thien-Hue Province at a cost of JPY 1.3 billion or VND 293 billion (US$13.3 million) which will come as loan from the Japanese Government, with  corresponding support from the Vietnamese Government.

The project is expected to complete within 27 months.

By Anh Thu, Phan Trung – Translated by Kim Khanh

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