Business

FDI disbursement up 9.2 percent in eight months

The disbursement of foreign direct investment (FDI) projects was estimated at 11.25 billion USD as of August 20, a year-on-year rise of 9.2 percent, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
FDI disbursement up 9.2 percent in eight months ảnh 1 Foreign investment was poured into 17 sectors, mainly in the processing and manufacturing industry with 10.72 billion USD, or 44 percent of the total registered investment (Illustrative image. Source: VNA)

Hanoi (VNA) – The disbursement offoreign direct investment (FDI) projects was estimated at 11.25 billion USD asof August 20, a year-on-year rise of 9.2 percent, according to the ForeignInvestment Agency under the Ministry of Planning and Investment.

The country granted investment licences to 1,918new projects with a total registered capital of 13.48 billion USD, up 0.2percent year-on-year, and allowed 736 existing projects to increase theircapital to a total of 5.58 billion USD, equal to 87.2 percent year-on-year.

From January to August, foreign investorscontributed capital and purchased shares of 5.28 billion USD, a year-on-yearincrease of 50.9 percent.

The FDI sector exported 110.3 billion USD worthof goods, including crude oil, showing a year-on-year rise of 13.4 percent andmaking up nearly 70.9 percent of the country’s total export turnover.

Foreign investment was poured into 17 sectors,mainly in the processing and manufacturing industry with 10.72 billion USD, or44 percent of the total registered investment.

Other attractive fields were real estate, and wholesaleand retail with 5.9 billion USD and 1.87 billion USD respectively, accountingfor 24.2 percent and 7.6 percent of the total investment.

Ninety-seven countries and territories are currentlyrunning investment projects in Vietnam. Japan tops the list with 7 billion USD,making up 28.8 percent of the total investment; followed by the Republic ofKorea with 5.16 billion USD (21.2 percent); and Singapore with 3.47 billion USD(14 percent).

Overseas firms invested in 59 cities andprovinces, of which Hanoi attracted the largest investment total of 5.93billion USD, or 24.4 percent of total investment.

Ho Chi Minh City came second with 4.42 billionUSD (18.2 percent), and Ba Ria-Vung Tau ranked third with 2.17 billion USD (8.9percent).

Major foreign investment projects include thesmart city project worth 4.1 billion USD in Hanoi invested by Japan’s SumitomoCorporation; the polypropylene (PP) plant and liquefied petroleum gas (LPG)warehouse worth 1.2 billion USD in Ba Ria-Vung Tau invested by the Republic ofKorea’s Hyosung Corporation; and the Laguna Company Ltd project invested bySingapore in the central province of Thua Thien-Hue with an additional capitalof 1.12 billion USD. –VNA

VNA
#foreign direct investment #FDI #projects #disbursement #Foreign Investment Agency #Ministry of Planning and Investment #investment licences #processing and manufacturing industry #real estate #wholesale and retail #vietnamplus #Vietnam News Agency
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