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VietNamNews

FDI disbursements surge by 2%

Update: June, 27/2012 - 10:21

 

A Honda Vietnam motorbike plant under construction in the northern province of Ha Nam. During the first half of this year, foreign investors committed investments of approximately $6.4 billion in the country, a 27.3 per cent reduction from last year. — VNA/VNS Photo Danh Lam
HA NOI — Disbursement of foreign direct investment (FDI) experienced a modest increase of 2 per cent during the first six months of this year, reaching US$5.4 billion, according to the Ministry of Planning and Investment's Foreign Investment Agency (FIA).

However, new FDI registered in the country slumped significantly during the period as only 452 new foreign-invested projects, worth $4.76 billion, were granted licences, equivalent to one-fourth of the last year's corresponding period in terms of both number of projects and level of capital.

The rate of added capital in existing projects also decreased. In six months, 123 projects registered to increase their capital by a total of $1.62 billion, a year-on-year decreases of 65 per cent in capital and 50 per cent in number of projects.

During the first half of this year, foreign investors have committed to pump total FDI of approximately $6.4 billion into the country, a 27.3 per cent reduction from last year.

Japan remained Viet Nam's largest source of foreign investment, as Japanese investors registered to invest $4.16 billion, making up 65 per cent of the nation's total FDI.

Japan was followed by the British Virgin Islands, South Korea, Hong Kong and Singapore.

The southern province of Binh Duong retained its position as the most favourite location for foreign investors, drawing about $1.79 billion or 38 per cent of total FDI registered in the country over the period.

In the January-June period, the foreign-invested sector posted an export value of $32.7 billion, up 37.3 per cent year-on-year. The sector also recorded an export surplus of $4.7 billion.

According to a draft circular recently released by the Ministry of Planning and Investment, State authorities will check that foreign-invested enterprises and projects conform to investment licences, development plans, investment incentives as well as regulations related to capital attraction, land use, ground clearance and compensation.

They would also check on matters such as taxation, capital contributions, project progress, wage mechanisms, treatment of workforce and environmental protection activities. — VNS

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