Viet­nam’s FDI tops $24.3 bn for first 8 months

The Nation - - AEC -

VIET­NAM’S for­eign di­rect in­vest­ment (FDI) com­mit­ments in the first eight months to­talled US$24.35 bil­lion, up 4.2 per cent year on year, ac­cord­ing to the coun­try’s For­eign In­vest­ment Agency (FIA).

Dur­ing the re­viewed pe­riod, FDI dis­burse­ment also saw a pos­i­tive in­crease of 9.2 per cent to US$11.25 bil­lion, the FIA, which is un­der the Min­istry of Plan­ning and In­vest­ment, has said.

Up to 1,918 new projects were granted li­cences with to­tal reg­is­tered in­vest­ment cap­i­tal of US$13.48 bil­lion be­tween Jan­uary and Au­gust, up 0.2 per cent from the same pe­riod last year, while 736 op­er­at­ing projects were in­jected with an ad­di­tional US$5.58 bil­lion, equiv­a­lent to 87.2 per cent of last year’s cor­re­spond­ing pe­riod.

No­tably, overseas play­ers spent $5.28 bil­lion on ac­quir­ing shares in Viet­namese com­pa­nies in the first eight months, shoot­ing up 51 per cent year on year. Among the largest-scale projects were the Ja­panese Su­mit­omo Corporation’s smart city project in Hanoi’s Dong Anh Dis­trict, cap­i­talised at over $4.13 bil­lion; a $1.2-bil­lion polypropy­lene man­u­fac­tur­ing plant, fi­nanced by South Korean Hyosung Corporation in Ba Ria-Vung Tau and the Sin­ga­pore-in­vested La­guna hos­pi­tal­ity project with ad­di­tional funds of $1.12 bil­lion. Oth­ers in­cluded the $600-mil­lion Lotte Mall Hanoi project which will in­clude a ho­tel, apart­ment, of­fice, and trade cen­tre com­plex and the LG In­notek Hoi Phong fa­cil­ity with ad­di­tional cap­i­tal of $501 mil­lion for man­u­fac­tur­ing cam­era mod­ules.

Man­u­fac­tur­ing and pro­cess­ing re­mained the most ap­peal­ing sec­tor by at­tract­ing $10.72 bil­lion in eight months, ac­count­ing for 44 per cent of the to­tal in­vest­ment in­flow. It was fol­lowed by real es­tate trad­ing with $5.9 bil­lion (24.2 per cent) and re­tail and whole­sale with $1.87 bil­lion (8 per cent).

Japan con­tin­ued to be Viet­nam’s lead­ing source of for­eign in­vest­ment with $7 bil­lion, mak­ing up nearly 30 per cent of the coun­try’s to­tal FDI. South Korea ranked sec­ond with $5.16 bil­lion (21.2 per cent), while Sin­ga­pore came next with $3.47 bil­lion (14 per cent).

In the first eight months, the cap­i­tal city lured the largest share of reg­is­tered cap­i­tal with $5.93 bil­lion, or 24.4 per cent of to­tal in­vest­ment. It was fol­lowed by Ho Chi Minh ity with $4.42 bil­lion or 18.2 per cent of to­tal in­vest­ment and the south­ern prov­ince of Ba Ria-Vung Tau with $2.17 bil­lion, ac­count­ing for 9 per cent of to­tal in­vest­ment.

From Jan­uary to Au­gust, for­eign­in­vested busi­nesses gained a trade sur­plus of ap­prox­i­mately $17.9 bil­lion with ex­ports top­ping US$110.3 bil­lion, 14 per cent higher than the same pe­riod last year, and im­ports hit­ting $90.8 bil­lion, up 11.4 per cent on year.

As of Au­gust 20, the coun­try had 26,438 for­eign-in­vested projects with to­tal reg­is­tered cap­i­tal of $333.83 bil­lion, and over half of the FDI had been dis­bursed, the agency noted.

Dur­ing the eight-month pe­riod, Viet­namese busi­nesses pumped $314 mil­lion into 115 projects aboard, statis­tics from FIA also re­vealed.

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