411 new FDI projects licensed in two months

Vietnam granted investment licences to 411 new projects of foreign investors as of February 20, with a total registered capital of US$1.39 billion which is equivalent to 68.6% of the figure for the same period last year.

411 new fdi projects licensed in two months hinh 0

In addition, 133 FDI projects registered for capital adjustment with additional investment of US$700 million, a year-on-year fall of 8%, according to the Ministry of Planning and Investment's Foreign Investment Agency.

Disbursements were estimated at US$1.7 billion, up over 9.7% year-on-year.

In the reviewed period, there were 873 deals made by foreign investors to contribute capital to businesses and to buy shares of Vietnamese businesses with total capital of US$1.25 billion, a year-on-year rise of 102%.

In total, the country attracted FDI worth US$3.34 billion, or 98.2% of the figure of the same period last year.

Manufacturing-processing attracted the most FDI in the period with US$1.83 billion, accounting for 54.6% of the total. Construction ranked second with US$345 million and estate trading was third with US$312 million, accounting for 10.3% and 9.3% of the total, respectively.

Among 60 nations and territories investing in Vietnam in the first two months, the Republic of Korea (RoK) was the biggest investor with US$851.2 million, making up 25.5% of the total. It was followed by British Virgin Islands with approximately US$450 million and Singapore with US$418 million.

Ho Chi Minh City was the top destination for foreign investors, attracting US$1.05 billion, or 31.27%, followed by Binh Duong (US$434 million), Ninh Thuan (US$253 million), or 12.98% and 7.6% respectively.

Large projects licensed in January-February included the US$150 million Hanbaram wind-power project in Ninh Thuan province and the US$80 million garment project funded by Ramatex Nam Dinh in Nam Dinh province, both of Singapore.

A project producing motor vehicle spare parts in Hai Duong province of the Kefico Vietnam Company added US$120 million to its investment, and a solar panel factory of the Vina Cell Technology Company added US$100 million.

January saw nearly US$1.25 billion of FDI poured into Vietnam, equal to 75.9% of the figure in the same period last year.

In 2017, Vietnam remained an attractive destination for foreign investors with total FDI capital registered in the country hitting a record high of US$35.88 billion, up 44.4% year on year.

FDI disbursement last year also reached a record high, increasing by 10.8% to US$17.5 billion.

VNA

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