Vietnam attracts US$11.18b in FDI

The Ministry of Planning and Investment (MPI)'s Foreign Investment Agency (FIA) also reported that more than 1,150 new foreign-invested projects worth US$7.63 billion were licensed during the period, representing a 17.8% year-on-year decrease.

The biggest projects included Samsung Display Bac Ninh Company's US$1-billion plant; the US$225-million Dai An Vietnam-Canadian International Hospital; and Texhong Group of China's US$215-million Texhong Hai Ha Industrial Park.

Meanwhile, authorities allowed 418 operating projects to add US$3.54 billion to their investments, and this represents a 37.9% year-on-year decrease.

One of the bright spots was the modest 3.2% increase in FDI disbursement to US$8.9 billion. The manufacturing and processing sector absorbed the largest share of FDI, reaching US$7.7 billion or 98.3% of the nation's total registered capital. This was followed by estate trading industries, which attracted US$1.2 billion, and construction industries, which lured US$612.1 million.

From January to September, the Republic of Korea was the country's leading FDI source with US$3.55 billion, or 31.8% of total registered FDI, followed by Hong Kong with US$1.52 billion or 13.6%, Japan with US$1.43 billion or 12.9%, and Singapore with US$1.07 billion or 9.6%.

Among 50 localities, northern Bac Ninh Province, HCM City, and the southern provinces of Dong Nai and Binh Duong, as well as Hanoi and the northern port city of Hai Phong, were the most attractive destinations for foreign investors.

FDI manufacturers to expand in North

About 200 foreign direct investment (FDI) manufacturers will take part in the FDI Manufacturers Gathering Day forum at the Vietnam-Singapore Industrial Park in northern Bac Ninh province on October 28.

The event, which the Chamber of Commerce and Industry of Vietnam (VCCI) organised with the help of the provincial People's Committee and the Asia Trade City Development Company Ltd, aims to boost co-operation and expand production and business operations among FDI manufacturers in the northern provinces.

Enterprises at the event will share difficulties and obstacles encountered in their business operations in Vietnam and offer suggestions for improvement. The suggestions will be collated into a report to the Prime Minister.

The forum will focus on updates and discussions on the macroeconomic situation, Vietnam's investment environment and strategy to attract FDI in the near future, as well as ways to strengthen co-operation between manufacturers and multinational corporations.

It will also help participating companies to hold dialogues with government representatives and ministry and provincial leaders. It is also an opportunity for the Vietnamese government to show its strong commitment to supporting FDI companies' production and business operations.

Businesses will also be able to meet and exchange information with suppliers of components, spare parts, raw materials and techniques in various fields such as mechanical engineering and automobile manufacturing.