Business

411 new FDI projects licensed in two months

Vietnam granted investment licences to 411 new projects of foreign investors as of February 20, with a total registered capital of 1.39 billion USD which is equivalent to 68.6 percent of the figure for the same period last year.
411 new FDI projects licensed in two months ảnh 1411 new FDI projects licensed in two months (Illustrative image. Source VNA)

Hanoi (VNA) – Vietnam granted investmentlicences to 411 new projects of foreign investors as of February 20, with atotal registered capital of 1.39 billion USD which is equivalent to 68.6percent of the figure for the same period last year.

In addition, 133 FDI projects registered for capital adjustment with additionalinvestment of 700 million USD, a year-on-year fall of 8 percent, according tothe Ministry of Planning and Investment's Foreign Investment Agency.

Disbursements were estimated at 1.7 billion USD, up over 9.7 percentyear-on-year.

In the reviewed period, there were 873 dealsmade by foreign investors to contribute capital to businesses and to buy sharesof Vietnamese businesses with total capital of 1.25 billion USD, a year-on-yearrise of 102 percent.

Intotal, the country attracted FDI worth 3.34billion USD, or 98.2 percent of the figure of the same period last year.

Manufacturing-processing attracted the most FDI in the periodwith 1.83 billion USD, accounting for 54.6 percent of the total. Constructionranked second with 345 million USD and estate trading was third with 312million USD, accounting for 10.3 percent and 9.3 percent of the total,respectively.

Among 60 nations and territories investing in Vietnam in thefirst two months, the Republic of Korean (RoK) was the biggest investor with851.2 million USD,
making up 25.5 percent of the total. It was followed by BritishVirgin Islands with approximately 450 million USD and Singapore with 418million USD.
 Ho Chi Minh City was the top destination for foreigninvestors, attracting 1.05 billion USD, or 31.27 percent, followed by BinhDuong (434 million USD), Ninh Thuan (253 million USD), or 12.98 percent and 7.6percent respectively.
 Large projects licensed in January-February included the 150million USD Hanbaram wind-power project in Ninh Thuan province and the 80million USD garment project funded by Ramatex Nam Dinh in Nam Dinh province,both of Singapore.
A project producing motor vehicle spare parts in Hai Duongprovince of the Kefico Vietnam Company added 120 million USD to its investment,and a solar panel factory of the Vina Cell Technology Company added 100 millionUSD.
January saw nearly1.25 billion USD of FDI poured into Vietnam, equal to 75.9 percent of thefigure in the same period last year.

In 2017, Vietnam remained an attractivedestination for foreign investors with total FDI capital registered in thecountry hitting a record high of 35.88 billion USD, up 44.4 percent year onyear.

FDI disbursement last year also reached a recordhigh, increasing by 10.8 percent to 17.5 billion USD. –VNA
VNA
#Vietnam #investment licenses #projects #foreign investors #FDI projects #Ministry of Planning and Investment's Foreign Investment Agency #disbursement #capital #shares #businesses #construction #trading #Vietnamplus #Vietnam News Agency
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