Ministry revises 2013 FDI figure

Ministry revises 2013 FDI figure

A 36 per cent increase or US$22.34 billion in foreign direct investment (FDI) was registered in 2013, the Ministry of Planning and Investment's Foreign Investment Agency's revised report noted.

Earlier, in December, the agency announced that the country had attracted approximately $21.63 billion in FDI for the year. However, this figure was calculated as of December 15.

According to the new report released last week, up to 1,530 new foreign-invested projects were licensed with a total registered capital of $14.48 billion by the end of 2013, increasing 67 per cent against the previous year's figure.

Five of these projects were large-scale with an investment capital of over $1 billion or equivalent to 54 per cent of the total FDI pledged in the country. Among them included a $2 billion factory for manufacturing and assembling electronics being developed by Samsung Electronics Viet Nam and China's Vinh Tan No 4 thermal power plant worth over $2 billion.

Another positive development was the approval of the expansion of 590 existing projects, thereby adding $7.86 billion to their capital and marking a slight increase of 1.5 per cent.

During the reviewed period, FDI disbursement also showed a positive trend with 10 per cent rise over the previous year at $11.5 billion.

The manufacturing and processing sector attracted the largest share of FDI, reaching $17.14 billion or 77 per cent of the nation's total registered capital. The wholesale and retail and real estate sectors ranked second and third, attracting $2.04 billion and $952 million, respectively.

Among the 57 countries and territories investing in Viet Nam, Japan was the leading source of FDI with over $5.87 billion, which is 24 per cent of the total FDI registered in the country. It was followed by Singapore ($4.76 billion) and South Korea ($4.46 billion).

The report revealed that the northern province of Thai Nguyen was considered the most attractive destination by foreign investors last year with $3.4 billion investment, accounting for 15.2 per cent of the country's total FDI. The central province of Thanh Hoa and northern port city of Hai Phong ranked second and third, with $2.93 billion and $2.61 billion, respectively.

During the January-December period, the foreign-invested sector generated $88.19 billion from exports, a yearly rise of 22.1 per cent or equivalent to 66.7 per cent of the country's total export turnover, while its imports reached $74.42 billion, up 24.2 per cent.

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