Vietnam increases investments abroad

According to the Ministry of Planning and Investments, Vietnamese enterprises invested in 712 projects abroad in 2012, with total registered capital of US$12.4 billion in 60 countries and territories.

In 2012 alone, 75 new investment projects were granted licenses with total registered capital of $1.3 billion in 28 countries and territories.

Several industries are developing rapidly, such as mining with capital of $2.3 billion; production of tools for electricity, gas, water heating and air conditioning crossed $400 million; agriculture, forestry and fisheries touched $500 million; and IT technologies reached $249 million.

Forecasts for 2013 show registered capital in foreign investment from Vietnam will be from US$1 to 1.5 billion.

Vietnam expects to attract $13-14 billion in Foreign Direct Investment (FDI) this year, according to the Ministry of Planning and Investment.

An enterprise in Vietnam with FDI capital

The Foreign Investment Agency under the Ministry of Planning and Investment announced at a press briefing in Hanoi on January 4 that the ministry will focus on improving the quality and effectiveness of FDI capital and how it is managed by the State.

Vietnam is focusing on two measures to increase FDI in 2013.One is removing barriers for investors involved in the service industry and the other is reducing inappropriate projects and dismantling the technical barriers related to international assistance.

FDI capital exceeded $13 billion in 2012. Japan was the largest investor with $5.13 billion, accounting for 39.5 percent of all FDI in Vietnam.

Up to $9.1 billion of FDI was registered in the processing and manufacturing sector-- equivalent to 70 percent of the total in 2011.

Source SGGP, translated by Dan

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