H1 disbursement of FDI up 9.6%
H1 disbursement of FDI up 9.6%
The disbursement of foreign direct investment (FDI) in Viet Nam in the first half of the year reached US$6.3 billion, up 9.6 per cent from a year ago.
The Ministry of Planning and Investment's Foreign Investment Agency said yesterday that the country attracted $5.49 billion in FDI during the January-June period, or 80.2 per cent of the figure in the first six months of last year and the lowest since 2012.
In the first half of the year, 750 new FDI projects were granted investment certificates, with total registered capital worth $3.84 billion, or 79 per cent of the number during the same period last year. Some 280 projects increased their registered capital by a total of $1.65 billion, or 83 per cent of last year's figure in the first half.
According to the agency, the number of newly granted projects increased 15 per cent in comparison with the corresponding period last year. However, there were no large-scale projects, which marked a reduction in registered capital from last year.
During the period, foreign investors entered 16 sectors. Most of the FDI went into the processing and manufacturing industries, with 338 new projects and 190 increasing capital worth $4.16 billion, accounting for 76 per cent of the total capital.
The property sector took the second position, with 11 new projects registered and 7 increasing capital with a total of $465.5 million. It was followed by the wholesale, retail and repair sectors, with 119 new projects and 26 increasing capital, with total capital worth $276.5 million.
South Korea overcame 48 countries and territories to become the top investing country in Viet Nam, with total registered capital worth $1.52 billion, followed by British Virgin Islands, with $684,8 million.
Turkey and Hong Kong held the third and fourth positions, with a total investment of $660.2 million and $627.5 million, respectively.
HCM City received the highest FDI capital during the six-month period, with a total investment of $1.12 billion, followed by Dong Nai Province and Hai Phong City, with investments worth $1.03 billion and $433.7 million, respectively.
Some of the large projects that were granted licences during the period include Hyosung Dong Nai, which has $660 million invested by Turkey to produce yarn in Dong Nai Industrial Zone; Worldon Viet Nam Company, with $300-million investment to produce high-end garment and textile products in HCM City; Lu Thai Viet Nam, with $160.8 million worth investment in Tay Ninh Province; and Tra Vinh 1 wind power project in Tra Vinh Province, with $120-million investment.
The ministry expects the annual FDI to reach $23 billion. As only 23.8 per cent of the target could be met in the first six months, the country will need to attract new projects with larger investments over the remainder of the year to achieve the target.
