Thursday, September 21 2017

VietNamNews

Foreign investment surges 52%

Update: July, 28/2017 - 09:00
Jan-July FDI from 2011-2017. — VNS Photo Linh Anh
Viet Nam News

HÀ NỘI — Việt Nam attracted US$21.93 billion in foreign direct investment (FDI) during the first seven months of this year, a surge of 52 per cent year-on-year, the highest rate since 2011, according to the latest Foreign Investment Agency statistics.

Of the total, $12.92 billion came from 1,378 newly-licensed projects, representing a yearly increase of 48.7 per cent.

Another 677 already-operating projects have registered to increase their capital by more than $5.87 billion, up 38.5 per cent year-on-year.

Foreign investors made 2,946 deals in contributing capital to businesses and buying shares of Vietnamese businesses with total value of $3.12 billion, soaring by 109.7 per cent compared with the same period in 2016.

During January-July, FDI disbursement reached $9.05 billion, up 5.8 per cent against last year’s figure.

Exports of foreign-invested enterprises (including crude oil) are estimated at $83.05 billion, up 20.3 per cent over last year, accounting for 72 per cent of the country’s total export turnover. Excluding crude oil, this figure is $81.26 billion, up 20 per cent.

Imports of foreign-invested enterprises reached $71.35 billion, up 28.1 per cent over the same period in 2016 and accounting for 60.3 per cent of the total import turnover of the country.

Manufacturing and processing industries continued to be the top sector, receiving $10.83 billion of FDI, comprising 49.4 per cent of the total registered FDI.

The sector was followed by the electricity production and distribution sector, with total investment capital of $5.25 billion, accounting for 23.98 per cent of the total FDI. The mining sector took third place, with $1.28 billion, or 5.86 per cent of the total FDI.

Among 98 countries and territories invested in Việt Nam, South Korea remained the leading investor, with $5.62 billion, 25.63 per cent of the FDI pledged to the country. Japan was the runner-up, with $5.46 billion, or 24.92 per cent of the FDI. Singapore followed with $3.8 billion, accounting for 17.3 per cent of the total FDI.

The central province of Thanh Hóa was the most attractive destination to foreign investors, as it received $3.06 billion in FDI, accounting for 15.9 per cent of the total FDI poured into 60 provinces and cities.

The northern province of Bắc Ninh was close on its heels with $2.95 billion, or 13.48 per cent of total FDI. The province granted an investment licence to Samsung Display Việt Nam Co Ltd’s $2.5 billion expansion project.

The northern province of Nam Định took the third place with $2.2 billion, or 10 per cent of total FDI. Of the estimate, $2.07 billion came from the BOT Nam Định 1 thermal power plant, the largest-ever investment project in Nam Định province. — VNS




 

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