FDI Capital up nearly 20 percent in first eight months

According to the Foreign Investment Agency under the Ministry of Planning and Investment, newly registered and additional foreign direct investment capital reached US$12.63 billion in the first eight months of this year, up 19.5 percent year-on-year.

As of August 20, 769 new projects were granted investment licenses with total registered capital of more than $7.4 billion, up 12.2 percent year-on-year, and 297 other projects expanded investment capital for an additional investment of $5.22 billion, up 31.7 percent year-on-year.

FDI disbursement hit $7.56 billion, up 3.8 percent compared to the same period last year.

Foreign investors must have been doing well in Vietnam as they have continued to pump a huge amount of money into the country.

Exports in FDI sector were estimated at $56.09 billion in the first eight months of this year, an increase of 21.7 percent year-on-year, accounting for 66.1 percent of the country’s total export turnover. If excluding crude oil, respective figures will be $51.24 billion, 26 percent year-on-year, and 60.42 percent of total exports.

Industrial processing and manufacturing magnetized up to 85.7 percent of the newly-register capital with more than 370 new projects worth $10.8 billion. Real estate sector ranked second with over $588 million of capital, followed by science and technology with $334 million.

Japan remained the biggest investor with $4.35 billion, tagged along by Singapore with $3.78 billion, and Russia with nearly $1.02 billion.

Foreign investors have invested in 50 provinces and cities across the country, of which Nghi Son refinery-petrochem project attracted $2.8 billion. The central province of Thanh Hoa topped the list of FDI attraction with $2.81 billion, accounting for 22.3 percent of total FDI capital. Thai Nguyen Province came next with $2.15 billion, accounting for 17.1 percent of total FDI capital. Bac Ninh Province ranked third with $1.39 billion.

By Anh Thu, T.Mai – Translated by Thuy Doan

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