FDI hits nearly US$11.3 billion in 10 months

FDI in Vietnam is estimated to have reached nearly US$11.3 billion as of October 20, equal to 78 percent of that in the same period last year.  

The Foreign Investment Agency under the Ministry of Planning and Investment said that around US$9.1 billion of FDI has been disbursed, up 1 percent over the same period last year. 

861 new projects with a total registered capital of nearly US$8.9 billion and 264 additional capital projects worth nearly US$2.4 billion have been licensed in the past 10 months.

Processing and manufacturing industries still attract many foreign investors’ attention with 362 new projects and 190 additional capital projects valued at more than US$5.6 billion.

They are followed by electricity generation and distribution worth over US$2.5 billion and construction projects capitalised at US$712 million.

Hong Kong ranks first among foreign investors in Vietnam with US$2.98 billion investment capital (accounting for 26.4 percent of the total FDI capital), followed by Singapore with US$1.55 billion (13.8 percent) and Japan with US$1.31 billion (11.6 percent).

Hai Duong leads cities and provinces in attracting FDI with nearly US$2.56 billion, or 22.7 percent of the country’s total investment capital.

FDI sector exports, including oil and gas, are estimated at US$43.2 billion in the past 10 months, a year-on-year increase of 38 percent, while imports reached US$38.29 billion, an increase of 29 percent.

Recently, some FDI businesses that have borrowed capital from credit organisations in Vietnam are operating inefficiently. Some foreign investors have run away, badly affecting credit organisations and the investment environment in Vietnam.

The Government has now asked organisations to apply stricter control over foreign currencies and FDI management.

(VOV)

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