Business

Foreign investor confidence returns

Registered FDI capital in Vietnam aggregated 20.8 billion USD in the first 11 months of 2013, a year-on-year increase of 54.2 percent, which has been seen by analysts as a positive signal showing the strong recovery of foreign investors’ confidence in both the short and long-term.

Registered FDI capital inVietnam aggregated 20.8 billion USD in the first 11 months of 2013, ayear-on-year increase of 54.2 percent, which has been seen by analystsas a positive signal showing the strong recovery of foreign investors’confidence in both the short and long-term.

DeputyMinister of Planning and Investment Nguyen Van Trung made the remark at arecent conference themed “investment promotion in industrial parks” inHanoi.

The figure exceeds the modest 2013 targetof a 15 billion USD FDI inflow and has been the highest level recordedsince 2010.

Eugenia Fabon Victorino, an ANZ Bankanalyst for the Asia-Pacific region, said registered FDI capital isstill a salient point of the economy.

He stressedthat policy changes increasing foreign investors’ asset ownership havehelped result in a sharp increase in investment.

Though some insignificant barriers of administrative formalities stillremain, the domestic investment climate has been improved this year dueto the stability of the Consumer Price Index ( CPI )and monetary market as well as the Government’s efforts in creatinginvestment incentives, numerous investors declared.

Around 43 percent of foreign firms in a survey on investors’ confidenceconducted by Grant Thornton Vietnam reflected positively onthe outlook of the Vietnamese market in the time to come.

The survey also says that only 13 percent of surveyed foreigninvestors held negative thoughts on the market and half of those willstill expand their investment next year.

Binh Duongprovince is an outstanding locality of FDI attraction as 52 overseasinvestors pledged to implement their registered projects there and 18foreign enterprises planned to expand current operation.

Chairman of the Association of Foreign InvestedEnterprises Nguyen Mai said FDI inflow in Vietnam will continueto soar in the coming time and contribute greatly to national economicgrowth in 2014.

He added that the quality of FDI has improved thanks to the investment of Samsung, LG and Robert Bosch groups.

The most prominent project is a 3.2 billion USD high-technologycomplex invested by the Republic of Korea – based Samsung Group.-VNA

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