Vietnam’s efforts in keeping foreign investors pay off

The disbursement of 4.42 billion USD of FDI in the first quarter of this year, a five-year high, is described as Vietnam’s successes in keeping foreign investors.
Vietnam’s efforts in keeping foreign investors pay off ảnh 1Illustrative image (Source: congthuong.vn)
Hanoi (VNA) – The disbursement of 4.42billion USD of FDI in the first quarter of this year, a five-year high, is described as Vietnam’s successes in keeping foreign investors.

Although new FDI inVietnam dropped sharply, the capital added to existing projects as well as contributions and share purchases in the first three months rose significantly.

The Ministry of Planning and Investment said duringthe period, Vietnam attracted a total of 8.9 billion USD in FDI,equivalent to 87.9 percent of the amount recorded last year.

The country attracted 322 new projects worth over3.21 billion USD, up 37.6 percent in volume but down 55.5 percent in valueyear-on-year, of which the projects each with a registered capital of over 100million USD accounted for up to 75 percent.

Major projects include the Long An I and II LNGPower Plant with a combined capital of more than 3.1 billion, and the 1.3billion USD O Mon II Thermal Power Plant, according to Phi Thi Phuong Nga, deputyhead of the Department  of Industrial and Construction Statisticsunder the General Statistics Office.

The billion-US dollar group saw only one new project- LEGO Manufacturing Vietnam plant, valued at 1.32 billion USD and invested byDenmark, in the southern province of Binh Duong.
Vietnam’s efforts in keeping foreign investors pay off ảnh 2Vietnam’s efforts in keeping foreign investors pay off. (Photo: VNA)
Since the beginning of this year, 228 projects registeredto raise their capital by 4.06 billion USD, up 41.6 percent in volume and 93.3percent in value year-on-year.

Meanwhile, capital contribution reached 1.63 billionUSD, an increase of 102.6 percent from the same period last year.

Such growth has proven foreign investors’ confidencein production and business in Vietnam, and their consideration of the SoutheastAsian nation a safe investment destination./.
VNA

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