Business

Vietnam sees optimistic signs in FDI disbursement

Approximately 7.9 billion USD was disbursed in foreign direct investment (FDI) all over Vietnam by August 20, up by 4.5 percent compared to last year, the Ministry of Planning and Investment’s Foreign Investment Agency said.
Approximately 7.9 billion USD was disbursed in foreign direct investment(FDI) all over Vietnam by August 20, up by 4.5 percent compared to lastyear, the Ministry of Planning and Investment’s Foreign InvestmentAgency said.

The agency’s experts attributed this to the rapid implementation of major projects licensed in recent years.

They foresee FDI disbursement for the entire year to totalapproximately 12.5 billion USD, a 8.7 percent rise compared to 2013.

However, newly registered FDI decreased by 19 percent in the firsteight months of 2014, totalling 10.2 billion USD, which was spreadacross 992 new projects and 349 existing ones.

Deputy Director of the agency Nguyen Noi said this decline was due to a drop in the number of major projects this year.
He for his part predicted the total FDI registered at 17–18 billionUSD for 2014, meeting the annual target but only representing 80 percentof the sum generated in 2013.

During the firsteight months, FDI companies earned approximately 65.23 billion USD fromshipping commodities abroad, including crude oil, which rose by 15.6percent compared to 2013, and accounted for 67.3 percent of Vietnam’sexport revenue.

The FDI sector’s imports wereestimated at 53.37 billion USD, up by 10.9 percent, and accounting for56 percent of the country’s total imports.-VNA
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