FDI disbursement rises but attractions fall

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FDI disbursement rises but attractions fall

The amount of disbursed foreign direct investment (FDI) in Vietnam in the first nine months of 2011 maintained a mild growth rate year-on-year while new FDI attractions slumped.

FDI disbursement rises but attractions fall

Based on reports on FDI disbursement submitted nationwide, the Foreign Investment Agency under the Ministry of Planning and Investment calculated FDI disbursement in September amounted to USD900 million, driving the figure in the year to date up to USD8.2 billion, a 2% year-on-year increase.

However, during the period, 675 new foreign-invested projects, worth USD8.23 billion, were granted licenses, decreasing 31% from the same period last year.

Meanwhile, 178 operating projects received approval to raise their level of capital by a combined USD1.66 billion, decreasing by 3% year-on-year.

Thus, pledged capital has pushed the total FDI registered in January-September up to USD9.9 billion, representing a year-on-year decrease of 28%.

Manufacturing and processing are the leading sectors in terms of FDI attraction with 300 newly-registered projects. Their investment capital totaled USD4.91 billion, accounting for 49.6 % of total registered capital.

Production and distribution contributed USD2.52 billion, 25% of the total figure. The construction sector made up USD689.3 million, occupying 7% while accommodation and catering services attracted USD446.8 million, or 4.5%.

The project of Hai Duong BOT thermo-power plant, developed by Malaysia’s Jaks Resources Berhad Group with total investment of USD2.26 billion, sees the Northern province of Hai Duong become the biggest FDI attraction in the country with USD2.5 billion, making up 25.6% of national FDI.

Ho Chi Minh City was runner-up, with First Solar Vietnam Manufacturing Co., Ltd, a Singaporean-invested project in the sector of manufacturing, worth more than USD1 billion taking the city’s total to USD1.73 billion so far this year.

Dong Nai Province was third with USD640 million whilst Ba Ria-Vung Tau, Binh Duong and Hanoi attracted registered FDI capital of USD580 million, USD545.7 million and USD526 million respectively.

Hong Kong remains the leading investor in Vietnam with total investment capital of USD2.9 billion, accounting for 29.3 % of the country’s FDI, followed by Singapore with USD1.5 billion, a 15.2% proportion.

(source by SGT)

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