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VN attract US$23.48 billion in FDI in ten months: MPI

Update: October, 30/2020 - 11:59

 

An industrial complex in the southern province of Đồng Nai. From January to October, 2,100 new projects have been licensed with total registered capital of $11.66 billion. — VNA Photo

HÀ NỘI — Việt Nam attracted US$23.48 billion worth of FDI in the first 10 months of this year, equal to 80.6 per cent of the figure in the same period last year, the Ministry of Planning and Investment (MPI) has reported.

From January to October, 2,100 new projects have been licensed with a total registered capital of $11.66 billion, down 32.1 per cent in volume and 9.1 per cent in value year-on-year.

Just over 900 projects have increased their capital, by an additional $5.71 billion, down 20.8 per cent in project numbers but up 4.4 per cent in capital, the ministry said.

It attributed the rise in capital to the $1.38 billion added to a petrochemical complex of a Thai investor in the southern province of Bà Rịa-Vũng Tàu, while the Tây Hồ Tây project - a mega-urban area project close to West Lake in Hà Nội and invested by the Republic of Korea (RoK) - increased investment by $774 million.

Foreign companies have invested $6.11 billion during the period through capital contributions and share purchases, representing a year-on-year decline of 43.5 per cent.

The Foreign Investment Agency under the MPI said that about $15.8 billion had been disbursed in the first 10 months, equal to 97.5 per cent of the figure in the same period last year.

Processing and manufacturing remain the most attractive sector for foreign investors, drawing in $10.7 billion and representing 45.7 per cent of committed FDI. Power production and distribution follows, with more than $4.8 billion (20.5 per cent of the total), then real estate and wholesale.

Among the 109 countries and territories investing in the country, Singapore is the largest, with $7.51 billion, followed by the Republic of Korea (RoK) with $3.42 billion, and China with $2.17 billion.

The Mekong Delta province of Bạc Lieu retains its position as the largest FDI recipient during the period, with $4 billion, accounting for 17 per cent of the total. HCM City ranks second with $3.7 billion, or 14.6 per cent, followed by Hà Nội with $3.13 billion.

Exports by the foreign-invested sector (including crude oil) in the first 10 months are worth $147.97 billion, or 97.6 per cent of last year’s value. Exports excluding crude oil stand at $146.52 billion, or 97.8 per cent.

Imports by the sector have totalled $117.56 billion, or 97 per cent of the figure last year. The sector, therefore, posts a trade surplus in the first 10 months of $30.4 billion including crude oil. — VNS

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