FDI sinks despite new projects
FDI sinks despite new projects
Total registered capital of foreign direct investment (FDI) projects in the first seven months this year decreased by 20 per cent year-on-year to US$9.53 billion, according to the Ministry of Planning and Investment's Foreign Investment Agency (FIA).
However, total disbursements from FDI firms were estimated at $6.8 billion, increasing 2.3 per cent against the corresponding period last year. FDI businesses generated an export turnover of $55.83 billion and incurred around $46.04 in imports, resulting in a trade surplus of $9.78 billion.
In the reviewed period, as many as 889 new FDI projects were licensed with total registered capital of $6.85 billion, representing 0.9 per cent year-on-year decrease. About 300 projects increased their investment by $2.67 billion, reducing 46 per cent in comparison with the same period last year.
The processing and manufacturing industries took the lead in attracting FDI with 448 newly-licensed projects with new registered and additional capital of $6.66 billion that accounted for 70 per cent of the total FDI. They were followed by the real estate sector with $1.13 billion, accounting for 12 per cent of the total and the construction sector with $547.58 million.
At present, 46 countries and territories have been investing in Viet Nam. South Korea took first place in terms of total registered investment of around $3.13 billion, accounting for 33 per cent of the country's total FDI inflow. Hong Kong ranked second, followed by Japan and Singapore.
The northern Bac Ninh Province led the country in FDI with $1.33 billion, accounting for 14 per cent of the country's total inflow. HCM City was second with total registered and additional capital of $1.07 billion, followed by Binh Duong, Dong Nai, Hai Phong and Ha Noi.
Some big FDI projects that were granted licences in July included South Korean investor's Samsung Display Company in Bac Ninh Province with $1 billion, Thang Long Cement Factory funded by an Indonesian investor in north-eastern Quang Ninh Province with $325.75 million and Dai An Viet Nam – Canada International Hospital Company in northern Hai Duong Province with $225 million.
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