FDI disbursement on the rise

Disbursement of foreign direct investment (FDI) in the first nine months of this year surged by 1.9 percent, hitting 8.2 billion USD, the General Statistics Office (GSO) has announced.

Despite the disbursement increase, the first nine months still saw a slump in both new registered investment capital and the number of new projects.
Disbursement of foreign direct investment (FDI) in the first nine monthsof this year surged by 1.9 percent, hitting 8.2 billion USD, theGeneral Statistics Office (GSO) has announced.

Despitethe disbursement increase, the first nine months still saw a slump inboth new registered investment capital and the number of new projects.During the period, about 675 new foreign-invested projects, worth about8.24 billion USD, were granted licences, down 31.5 percent in terms ofcapital and 30 percent in quantity compared to the same period lastyear.

Meanwhile, 178 operating projects received approval to raise their level of capital by a combined 1.67 billion USD.

The new additions have brought the total FDI registered in the firstnine months of the year to more than 9.9 billion USD, representing ayear-on-year decrease of 28 percent, the GSO said.

Duringthe period, Hong Kong remained Vietnam 's largest source of foreigninvestment with 2.8 billion USD, making up 34 percent of the country'snew registered capital.

The processing and manufacturingsector attracted the lion's share of FDI, gobbling up 4.91 billion USD.Electricity, gas and water production and the distribution sectorcontributed 2.52 billion USD while the construction industry made up 689million USD.

Drawing 2.48 billion USD, or 30 percent ofthe nation's total FDI, the northern province of Hai Duong proved tobe the country's ideal destination for foreign investors. HCM Cityfollowed with 1.68 billion USD, southern Ba Ria-Vung Tau province with548 million USD and the capital city with 451 million USD./.

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