Foreign investment in Viet Nam surge 52 per cent

FDI in Jan-July through years in 2011-2017. — VNS Photo Linh Anh

Viet Nam attracted US$21.93 billion in foreign direct investment (FDI) during the first seven months of this year, a surge of 52 per cent year-on-year, according to the latest Foreign Investment Agency statistics.

Of the total, $12.92 billion came from 1,378 newly-licensed projects, representing a yearly increase of 48.7 per cent.

Another 677 already-operating projects have registered to increase their capital by more than $5.87 billion, up 38.5 per cent year-on-year.

Foreign investors made 2,946 deals in contributing capital to businesses and buying shares of Vietnamese businesses with total value of $3.12 billion, soaring by 109.7 per cent compared with the same period in 2016.

During January-July, FDI disbursement reached $9.05 billion, up 5.8 per cent against last year’s figure.

Exports of foreign-invested enterprises (excluding crude oil) are estimated at $83.05 billion, up 20.3 per cent over last year, accounting for 72 per cent of the country’s total export turnover. Including crude oil, this figure is $81.26 billion, up 20 per cent.

Imports of foreign-invested enterprises reached $71.35 billion, up 28.1 per cent and accounting for 60.3 per cent of the total import turnover of the country.

Foreign-invested imports reached $ 71.35 billion, up 28.1 per cent over the same period in 2016 and accounted for 60.3 per cent of import turnover.

Manufacturing and processing industries continued to be the top sector, receiving $10.83 billion of FDI, comprising 49.4 per cent of the total registered FDI.

The sector was followed by the electricity production and distribution sector, with total investment capital of $5.25 billion, accounting for 23.98 per cent of the total FDI. The mining sector took third place, with $1.28 billion, or 5.86 per cent of the total FDI.

Among 98 countries and territories invested in Viet Nam, South Korea remained the leading investor, with $5.62 billion, 25.63 per cent of the FDI pledged to the country. Japan was the runner-up, with $5.46 billion, or 24.92 per cent of the FDI. Singapore followed with $3.8 billion, accounting for 17.3 per cent of the total FDI.

Thanh Hoa was the most attractive destination to foreign investors, as it received US$3.06 billion in FDI, accounting for 15.9 per cent of the total FDI poured into 60 provinces and cities. Of the total FDI poured in the central province, $2.8 billion came from the BOT Nghi Sơn 2 thermal power plant project.

The northern province of Bac Ninh was close on its heels with $2.95 billion, or 13.48 per cent of total FDI. The province granted an investment licence to Samsung Display Viet Nam Co. Ltd.’s $2.5 billion expansion project.

The northern province of Nam Dinh took the third place with $2.2 billion, or 10 per cent of total FDI. Of the estimate, $2.07 billion came from the BOT Nam Dinh 1 thermal power plant, the largest-ever investment project in Nam Dinh province. — VNS



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