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VietNamNews

Viet Nam attracts $11.18b in FDI

Update: September, 25/2014 - 10:17
Sewing machines being made at Juky Viet Nam in HCM City's Tan Thuan Processing Zone. Viet Nam attracted $11.18 billion in foreign direct investment during the first nine months of the year. — VNA/VNS Photo Thanh Vu
HA NOI  (VNS) — Viet Nam attracted US$11.18 billion in foreign direct investments (FDI) in the first nine months of this year, or 74.5 per cent of FDI in the same period last year.

The Ministry of Planning and Investment's Foreign Investment Agency also reported that more than 1,150 new foreign-invested projects worth $7.63 billion were licensed during the period, representing a 17.8-per cent year-on-year decrease.

The biggest projects included Samsung Display Bac Ninh Company's $1-billion plant; the $225-million Dai An Viet Nam-Canadian International Hospital; and Texhong Group of China's $215-million Texhong Hai Ha Industrial Park.

Meanwhile, authorities allowed 418 operating projects to add $3.54 billion to their investments, and this represents a 37.9-per cent year-on-year decrease.

One of the bright spots was the modest 3.2-per cent increase in FDI disbursement to $8.9 billion. The manufacturing and processing sector absorbed the largest share of FDI, reaching $7.7 billion or 98.3 per cent of the nation's total registered capital. This was followed by estate trading industries, which attracted $1.2 billion, and construction industries, which lured $612.1 million.

From January to September, South Korea was the country's leading FDI source with $3.55 billion, or 31.8 per cent of total registered FDI, followed by Hong Kong with $1.52 billion or 13.6 per cent, Japan with $1.43 billion or 12.9 per cent, and Singapore with $1.07 billion or 9.6 per cent.

Among 50 localities, northern Bac Ninh Province, HCM City, and the southern provinces of Dong Nai and Binh Duong, as well as Ha Noi and the northern port city of Hai Phong, were the most attractive destinations for foreign investors.

FDI manufacturers to expand in North

About 200 foreign direct investment (FDI) manufacturers will take part in the FDI Manufacturers Gathering Day forum at the Viet Nam-Singapore Industrial Park in northern Bac Ninh province on October 28.

The event, which the Chamber of Commerce and Industry of Viet Nam (VCCI) organised with the help of the provincial People's Committee and the Asia Trade City Development Company Ltd, aims to boost co-operation and expand production and business operations among FDI manufacturers in the northern provinces.

Enterprises at the event will share difficulties and obstacles encountered in their business operations in Viet Nam and offer suggestions for improvement. The suggestions will be collated into a report to the Prime Minister.

The forum will focus on updates and discussions on the macroeconomic situation, Viet Nam's investment environment and strategy to attract FDI in the near future, as well as ways to strengthen co-operation between manufacturers and multinational corporations.

It will also help participating companies to hold dialogues with government representatives and ministry and provincial leaders. It is also an opportunity for the Vietnamese government to show its strong commitment to supporting FDI companies' production and business operations.

Businesses will also be able to meet and exchange information with suppliers of components, spare parts, raw materials and techniques in various fields such as mechanical engineering and automobile manufacturing. — VNS

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