Newly-licensed large-scale projects spurred nine-month foreign direct investment (FDI) registered in Vietnam to soar 53.4 percent year-on-year to 17.15 billion USD in the first nine months.
The southern province of Binh Duong attracted over 1.2 billion USD in foreign direct investment (FDI) from January-July, surpassing the yearly target of one billion USD.
Disbursement of foreign direct investment (FDI) increased 7 percent
to end at 3.05 billion USD in the first quarter of the year.
The amount attracted compared to last year fell significantly
however. As of March 20, the country licensed more than 1.83 billion USD
in FDI, equivalent to just 55.1 percent of the same period in 2014. Of
the total, 1.21 billion USD was poured into 267 newly licensed projects
and the remainder was added to 102 operating projects.
The gross domestic product (GDP) in
2014 is estimated to grow by 5.98 percent over the previous year, according to Director General of the Vietnam General Statistics Office (GSO) Nguyen
Bich Lam.
A light decrease in foreign direct investment (FDI) into Vietnam
over the last 10 months prompted experts to ask for the introduction of a
market-oriented attraction strategy along with post-licensing caring
services for operating investors.
According to
Nguyen Dinh Cung, head of the Central Institute for Economic Management,
the attraction of FDI should be considered as an important and
effective driving force of the country’s economic development in
policies outlined to reel in foreign investments.
Ho Chi Minh City led cities and provinces nationwide in attracting
foreign direct investment (FDI) in the first 10 months of this year,
with a total registered and additional capital of 2.85 billion USD,
accounting for 20.8 percent of the country’s total figure.
More than 10.23 billion USD of foreign direct investment (FDI) flowed
into Vietnam over the first eight months of 2014, falling by 19 percent
against last year’s same period, said the General Statistics Office.
Processing and manufacturing industries have attracted the most foreign
direct investment (FDI) capital so far this year, with 448
newly-licensed projects and a new registered and additional capital of
6.66 billion USD, accounting for about 70 percent of the total FDI.
Total registered capital of foreign direct investment (FDI) projects in
the first seven months this year decreased by 20 percent year-on-year to
9.53 billion USD, according to the Ministry of Planning and
Investment's Foreign Investment Agency (FIA).
As many as 500 new foreign direct investment (FDI) projects were
licensed in the first five months of this year, with a total registered
capital of 3.67 billion USD.
The southern province of Dong Nai attracted 588.2 million USD of foreign
direct investment (FDI) in the first five months of 2014, jumping by 40
percent from 425.1 million USD a year earlier, according to the
provincial Department of Planning and Investment.
The country's foreign direct investment (FDI) capital disbursement in
the first five months of the year inched up 0.4 percent against the same
period last year to 4.6 billion USD.
Capital disbursement by foreign-invested projects reached about 4
billion USD in this year’s first four months, representing a
year-on-year increase of 6.7 percent, according to the Foreign
Investment Agency under the Ministry of Planning and Investment.
The foreign-invested
sector marked as a bright spot in the northern Thai Nguyen province's
upbeat economic picture in the first quarter of 2014, according to the
provincial Department of Planning and Investment.
The southern hub of Ho Chi Minh City aims to attract 2.5 billion USD in
foreign direct investment (FDI) this year, which is 20 percent higher
than last year's figure.
The southern province of Binh Duong has acted as a magnet for both
Vietnamese and foreign investors, helping drive future growth. Feature
by the Vietnam Investment Review.
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