No fresh ODA projects signed during March

VOV.VN - There were no new ODA projects signed during March according to a report sent to the Government by the Ministry of Planning and Investment on socio-economic performance during the first quarter of the year.

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No new ODA projects were signed during March (Illustrative photo)
As of March 20, approximately US$90 million in ODA and concessional loans of foreign sponsors had been disbursed.  Since the beginning of the year, the total amount of ODA and preferential loans signed has reached US$105 million, while the total ODA and disbursed loans were estimated to stand at US$424 million, equivalent to VND 9,834 billion.

Regarding foreign investment, the Ministry of Planning and Investment stated that the complicated nature of the novel coronavirus pandemic has greatly affected the travel of investors, along with their new investment plans to expand existing projects. This therefore contributed to reducing the attraction of foreign investment in the first quarter of 2020, in terms of both number of projects and total registered investment capital.

The total registered foreign investment capital, including FDI, had reached nearly US$8.55 billion by March 20, equal to 79.1% of the figure from last year’s corresponding period.

If large projects over US$1 billion are excluded, then the total value of newly registered and adjusted capital, capital contributions, and shares purchases by foreign investors is equivalent to 64.6% of the figure from the same period in 2019.

FDI disbursement during the year’s first quarter is estimated to be US$3.85 billion, equal to 93.4% of the figure from last year.

The sectors which were able to attract the most FDI capital include electricity production and distribution, accounting for 47.5% of total registered capital, along with the manufacturing and processing industry, making up 31.9%.

Throughout the reviewed period there were 31,665 valid projects with a total registered capital of US$ 370.1 billion taking place in the country, along with disbursed capital of US$215.6 billion, equaling 58.3% of the total registered capital.

The Republic of Korea topped the list of the nation’s largest FDI investors with a total registered capital of US$ 68.6 billion, making up 18.5% of all investment capital, trailed by Japan with US$ 59.7 billion, equal to 16.1% of the total, and then Singapore, Taiwan, and Hong Kong (China).