Newly registered and added foreign direct investment capital (FDI) tumbled to 3.3 billion USD in the first quarter of this year, down by 49.6 percent compared to the same period in 2013, according to the General Statistics Office.
However, the country's disbursement of FDI in the first quarter rose 5.6 percent against the same period last year to 2.85 billion USD. During the period, processing and manufacturing was the most attractive sector to foreign investors, accounting for 2.33 billion USD or 69.9 percent of the country's FDI inflow. Real estate followed with 288.3 million USD, accounting for 8.6 percent.
Ho Chi Minh City drew the largest share of FDI with 687.7 million USD, followed by northern Hai Duong province with 248.1 million USD and southern Binh Duong province with 223.5 million USD.
The Republic of Korea topped the list of overseas investors in Vietnam with 534.2 million USD worth of newly registered and added capital. Hong Kong (China) followed with 264.5 million USD, and the Virgin Islands (the UK) and Singapore also invested 238.7 million USD and 230.7 million USD, respectively.
Domestic experts recently forecasted that the strong flow of FDI into Vietnam from multinational groups would continue in the 2015-20 period.
Chairman of the Vietnam Association of Foreign Invested Enterprises Nguyen Mai stated that the global economy was on the mend, and successful businesses were scurrying to find lucrative investments.
Mai noted that universally, they considered Vietnam among the top investment destinations in the world, largely attributable to its population of nearly 100 million, of which 15 percent belong to the middle class, and the country's solid economic growth rate.
However, the Government must improve FDI related policies, they said.
Deputy Director of the Ministry of Planning and Investment's Foreign Investment Agency, Nguyen Noi, emphasised that drastic measures to improve the business environment would be undertaken. Most notably, measures would be adopted to simplify customs formalities and streamline procedures to establish businesses, he reported.
The ministry is also gathering recommendations on the revised draft Law on Investment, which is expected to create a more transparent investment climate by amending and adding new administrative procedures and addressing the difficulties in gauging investment performance.-VNA
However, the country's disbursement of FDI in the first quarter rose 5.6 percent against the same period last year to 2.85 billion USD. During the period, processing and manufacturing was the most attractive sector to foreign investors, accounting for 2.33 billion USD or 69.9 percent of the country's FDI inflow. Real estate followed with 288.3 million USD, accounting for 8.6 percent.
Ho Chi Minh City drew the largest share of FDI with 687.7 million USD, followed by northern Hai Duong province with 248.1 million USD and southern Binh Duong province with 223.5 million USD.
The Republic of Korea topped the list of overseas investors in Vietnam with 534.2 million USD worth of newly registered and added capital. Hong Kong (China) followed with 264.5 million USD, and the Virgin Islands (the UK) and Singapore also invested 238.7 million USD and 230.7 million USD, respectively.
Domestic experts recently forecasted that the strong flow of FDI into Vietnam from multinational groups would continue in the 2015-20 period.
Chairman of the Vietnam Association of Foreign Invested Enterprises Nguyen Mai stated that the global economy was on the mend, and successful businesses were scurrying to find lucrative investments.
Mai noted that universally, they considered Vietnam among the top investment destinations in the world, largely attributable to its population of nearly 100 million, of which 15 percent belong to the middle class, and the country's solid economic growth rate.
However, the Government must improve FDI related policies, they said.
Deputy Director of the Ministry of Planning and Investment's Foreign Investment Agency, Nguyen Noi, emphasised that drastic measures to improve the business environment would be undertaken. Most notably, measures would be adopted to simplify customs formalities and streamline procedures to establish businesses, he reported.
The ministry is also gathering recommendations on the revised draft Law on Investment, which is expected to create a more transparent investment climate by amending and adding new administrative procedures and addressing the difficulties in gauging investment performance.-VNA
