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.
Deputy Minister of Planning and Investment Nguyen Van Trung made the remark at a recent conference themed “investment promotion in industrial parks” in Hanoi.
The figure exceeds the modest 2013 target of a 15 billion USD FDI inflow and has been the highest level recorded since 2010.
Eugenia Fabon Victorino, an ANZ Bank analyst for the Asia-Pacific region, said registered FDI capital is still a salient point of the economy.
He stressed that policy changes increasing foreign investors’ asset ownership have helped result in a sharp increase in investment.
Though some insignificant barriers of administrative formalities still remain, the domestic investment climate has been improved this year due to the stability of the Consumer Price Index ( CPI ) and monetary market as well as the Government’s efforts in creating investment incentives, numerous investors declared.
Around 43 percent of foreign firms in a survey on investors’ confidence conducted by Grant Thornton Vietnam reflected positively on the outlook of the Vietnamese market in the time to come.
The survey also says that only 13 percent of surveyed foreign investors held negative thoughts on the market and half of those will still expand their investment next year.
Binh Duong province is an outstanding locality of FDI attraction as 52 overseas investors pledged to implement their registered projects there and 18 foreign enterprises planned to expand current operation.
Chairman of the Association of Foreign Invested Enterprises Nguyen Mai said FDI inflow in Vietnam will continue to soar in the coming time and contribute greatly to national economic growth 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-technology complex invested by the Republic of Korea – based Samsung Group.-VNA
