FDI inflows soar Oct but year target hard to reach: investment agency

(File) Foreign delegates attend a workshop during the Vietnam International Food and Hotel Exhibition in Ho Chi Minh City on September 28-30, 2011 (Photo: Tuong Thuy)

A total of 186 new foreign direct investment (FDI) projects have been licensed this month in Vietnam with US$638 million in the total registered capital, twice as much as in August and September, according to the Ministry of Planning and Investment.

The ministry’s Foreign Investment Agency said 86 foreign-invested projects have this month raised their capital by US$732 million, the highest monthly number of added capital so far this year.

The figures of both the fresh FDI and added capital improved such significantly in October, the agency said. The two kinds of FDI inflows totaled US$1.3 billion.

The agency said this month’s FDI disbursement was US$900 million, equal to that last month, putting the January-October period’s total disbursement at US$9.1 billion.

Vietnam posts ten months’ total FDI registered (fresh and added capital) at almost US$11.3 billion, down 22% year-on-year. This makes the country’s target to attract US$20 billion in FDI inflows for this year hard to achieve, the Foreign Investment Agency said.

By Anh Thu, translated by Tuong Thuy

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