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.