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.
Illustrative image (Source: congthuong.vn)Although new FDI in Vietnam 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 during the 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 over 3.21 billion USD, up 37.6 percent in volume but down 55.5 percent in value year-on-year, of which the projects each with a registered capital of over 100 million USD accounted for up to 75 percent.
Major projects include the Long An I and II LNG Power Plant with a combined capital of more than 3.1 billion, and the 1.3 billion USD O Mon II Thermal Power Plant, according to Phi Thi Phuong Nga, deputy head of the Department of Industrial and Construction Statistics under 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 by Denmark, in the southern province of Binh Duong.
Vietnam’s efforts in keeping foreign investors pay off. (Photo: VNA)Meanwhile, capital contribution reached 1.63 billion USD, an increase of 102.6 percent from the same period last year.
Such growth has proven foreign investors’ confidence in production and business in Vietnam, and their consideration of the Southeast Asian nation a safe investment destination./.
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