Seven-month FDI nears 794 million USD in Dong Nai

Jan FDI approvals plunge By Quoc Hung - The Saigon Times Daily HCMC – The country’s foreign direct investment (FDI) approvals in January totaled a mere US$37.3 million, representing a meager 2.5% of the figure recorded a year ago, according to the Foreign Investment Agency under the Ministry of Planning and Investment. The first month of the year saw 25 fresh projects licensed with total capital pledges of US$29.5 million, equivalent to 33.8% of the number and 2.4% of the capital posted in the same period last year. Meanwhile, five operational FDI projects registered additional capital of US$7.8 million to expand investment. Such poor FDI attraction is partly attributable to the long Lunar New Year holiday in January, which significantly reduced the working time of the investment authorities. On the other hand, in the first month of last year a billion-dollar project invested by America’s First Solar Group to build a solar power panels plant in HCMC sent new FDI approvals surging. Still, the decline in both newly registered and added capital shows signs of a tough year ahead for FDI attraction. There are only 12 localities nationwide reporting newly licensed FDI projects in January. HCMC attracted the most capital, at US$13 million, or 44.2% of the total newly pledged capital, far surpassing Thanh Hoa at second place with US$3.5 million, followed by Ha Nam with US$3.2 million, and Hung Yen with US$3 million. Ba Ria-Vung Tau used to lure hefty FDI capital in January of previous years, but this…... [read more]

January business suspensions grow 22.9% Da Ban By Da Ban - The Saigon Times Daily HCMC – Small- and medium-sized enterprises still bear the brunt of economic difficulties as 9,772 businesses have had to suspend operations in the first month of the year, up 22.9% year-on-year. According to the General Statistics Office (GSO), 3,367 of the total number have registered for temporary closure while the rest are waiting for their tax codes to be deleted or gone into oblivion. In January, 993 enterprises have been dissolved and the majority of them have chartered capital of less than VND10 billion (around US$468,400) each, according to Vietnam News Agency. This month has seen 2,872 enterprises resuming operations and 6,867 new firms coming into existence. The number of new businesses is similar to that of January last year but their registered capital of VND31.7 trillion is down 27.5% year-on-year. The registered capital of a new enterprise this month averages VND4.6 billion, down 20.4% compared to a year ago. The total work force of business startups is 103,500, down 7.4% year-on-year. The sectors with strong increases in business startups include art and entertainment services (147.6%), education and training (44.9%) and property trading (nearly 42%). City’s budget collections soar in January * The HCMC Department of Finance said the city has collected VND26.8 trillion (US$1.2 billion) in taxes this month, up a staggering 28.3% year-on-year and meeting around 10% of the year’s target. The department’s report showed that VND16.7 trillion of the total amount is…... [read more]

Vietnam lured over USD1.42 billion of foreign direct investment (FDI) newly-licensed and increased capital in August 2016, bringing the figure from the start of the year to USD14.36 billion, a year-on-year rise of 7.7%, reported the Ministry of Planning and Investment’s Foreign Investment Agency (FIA). Specifically, as of August 20th, the country saw nearly 1,620 new projects licensed with a total registered capital of nearly USD9.8 billion, up 24.3% over a year earlier. 770 ongoing projects registered additional capital of USD4.57 billion, a year-on-year decrease of 16.4%. Over the past eight months, 65 countries and territories poured investment capital into Vietnam, the Republic of Korea taking the lead with a total newly-registered and increased capital of USD4.8 billion, accounting for 33.4%. The runners-up were Singapore at nearly USD1.68 billion (11.6%), and Japan at USD1.46 billion (10.1%). Disbursement of FDI projects showed stability with a year-on-year rise of 8.9% at about USD9.8 billion. Foreign investors are involved in 19 sectors of the Vietnamese economy. In the eight months, the majority of them were clustered in the processing and manufacturing sector, with 678 newly-registered projects and 551 existing projects adjusting capital worth USD10.53 billion, making up 73.3% of the total FDI flow into the country. The second most preferred sector is real estate, with 34 projects worth USD836.2 million, making up 5.8% of the total FDI volume./. BTA... [read more]

Taiwan (China) and the Republic of Korea (RoK) have been the leading foreign investors in the southern province of Dong Nai with investment capital surpassing 5 billion USD, according to the provincial Department of Planning and Investment. Taiwan topped the list of over 40 countries and territories investing in the province with 283 projects worth nearly 5.13 billion USD, followed by the RoK with 312 projects capitalised at over 5 billion USD. Their investment is focusing mainly on footwear, garment, wooden products, electronics, and products serving support industries. In February, local industrial parks attracted 14 foreign direct investment (FDI) projects with registered capital of 170 million USD, 2.6 times higher than that of the same period last year, according to the Management Board of the Dong Nai Industrial Zones. Also during the month, 17 FDI projects registered additional capital worth 299 million USD, up 4.2 times, the board added. In the first two months of 2016, the total FDI capital pouring into the local industrial zones reached 464 million USD. This year, Dong Nai targets to attract 1 billion USD in investment.... [read more]

The southern province of Dong Nai attracted about US$1.57 billion in foreign direct investment (FDI) capital from the beginning of this year to August 20, up 70% compared to the same period last year and surpassing this year’s target by 57%. According to the provincial Department of Planning and Investment, US$1.23 billion was poured into 68 new projects and US$337 million went into 22 existing projects as registered additional capital. The Republic of Korea’s (RoK) Hyosung Dong Nai Limited Company put up the largest investment capital with over US$600 million in the period. The majority of investors have primarily employed green and environmentally-friendly technologies in accordance with the province’s long-term plans, said the department. In the first 8 months of this year, disbursement of existing projects recorded a year-on-year rise of 5.3% to hit US$800 million, reaching 73% of the yearly target. By August 20, the province had licensed 1,517 FDI projects with total investment capital of nearly US$27.67 billion, 1,161 of which are operating with total capital of US$23.16 billion.... [read more]

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The Dinh Vu Industrial Park. — Photo haiphong.gov.vn HA NOI (Biz Hub) — Since the beginning of this year, economic zones and industrial parks in Hai Phong had attracted 14 new projects and seven others had registered to increase their capital, according to the Hai Phong Economic Zone Authority. These include 11 new foreign direct investment (FDI) projects and six FDI ones registered additional capital with total investment of US$204.4 million, Dau Tu (Vietnam Investment Review) quoted the source as saying. Domestic enterprises invested in three new projects and adjusted capital for one project at a total cost of VND432.5 billion, an increase of 42 per cent compared to the same period last year. — VNS... [read more]

The southern province of Dong Nai reeled in USD 982 million in foreign direct investment (FDI) in January-April, surpassing its original USD 900 million target for this year. Of 50 foreign-invested projects during the period, 28 are new businesses and the remainder have registered additional capital, mostly in the support industry, high technology, services and farming based in industrial parks, said Director of the provincial Department of Planning and Investment Bo Ngoc Thu. The success is a result of much simplified administrative procedures, including the new "one-stop shop" mechanism. As well as improving the business climate, Dong Nai has ramped up infrastructure in urban and industrial areas, including the National Highway 1, the Ho Chi Minh City – Long Thanh – Dau Giay expressway, and wastewater treatment plants in all industrial parks. The province is home to a pool of qualified workers and transport facilities convenient for trade with southern metropolis Ho Chi Minh City. Local authorities have been holding regular meetings with the business community to deal with any arising problems. Source: VNA... [read more]

Vietnam attracted nearly USD1.54 billion of foreign direct investment (FDI) in the first two months this year, 37.5 percent of the same period last year, reported the General Statistics Office. During the period, total newly-licensed capital reached more than USD830 million, 80.7 percent over a year earlier, while ongoing projects had an increased capital of nearly USD709 million, 23 percent against a year previous. Number of newly-licensed projects (122) and projects registering additional capital (41) dropped from the same period last month. However, disbursement of FDI capital reached USD1.12 billion, a year-on-year rise of 6.7 percent. The processing industry still draws the most FDI capital with nearly USD1.18 billion of newly-licensed capital, 76.5 percent of the country's total. Following it was real estate business with USD278 million, and warehouse, transport and retail. The Republic of Korea topped the biggest FDI investors in Vietnam with nearly USD469 million, 30.5 percent of the country's total newly-licensed and increased capital, followed by Singapore (over USD264 million) and Japan (over USD263 million). The largest FDI capital during the period was poured into Binh Duong province with USD690 million, 44.8 percent of the country's total./.... [read more]

Ho Chi Minh Ciy's investment increased greatly in capital and the number of registered businesses in the first month of 2014, according to the municipal Department of Planning and Investment. The city has attracted a combined investment 12.072 trillion VND (567 million USD) from 1,415 new businesses and 2,680 existing businesses registering additional capital. As of January 20, the city has licensed 15 new foreign investment projects with a total fund of 19.9 million USD, up 51.5 percent year-on-year. The city is carrying out 24 official development assistance funded projects, worth more than 125.9 trillion VND (5.92 billion USD). Meanwhile, the number of dissolved companies has decreased by 5 percent from 2013 to 162, equal to 11.5 percent of new businesses established.-VNA... [read more]




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