FDI in 8 first months: Stable towards attainable goals
11:38 | 26/08/2009
VGP – Assessing the FDI situation in the first eight months, Director Phan Hữu Thắng of the Foreign Investment Agency (FIA) stated that Việt Nam is on its track and will attain the goals.

 

Accommodation and catering services attract foreign investors most - Photo: VGP

In the 8-month period, foreign investors have registered to invest VND 10.453 billion in Việt Nam while disbursing US $6.5 billion. 

For eight months, 504 projects have been licensed, with the total registered capital of US $5.625 billion. And 149 projects have proposed their additional capital of US $4.828 billion in the same period. 

"This fact proves investors’ confidence in the recovery and development of the Vietnamese economy," said FIA. 

The most optimistic point is seen in FDI disbursement when the 8-month figure reached US $6.5 billion or 91.5% of the same period last year. Việt Nam targets to disburse US $9 billion this year. 

Accommodation and catering services rank the top

Accommodation and catering services are the field most attracting foreign investors. Over the past eight months, US $4.566 billion have been poured in these services, with 20 new FDI projects (US $755 million in total) and three projects added with US $3.811 billion. 

In August, processing and manufacturing industry surpassed real estate to become the second biggest field after China Steel Corp and Sumitomo Metal (Japan) registered a US $1.148 billion steel project in the southern province of Bà Rịa-Vũng Tàu. 

Also for eight months, 35 countries and territories have launched their investment projects in Việt Nam. The top investors are the US (US $3.956 billion), Taiwan-China (US $1.353) and British Virgin Islands (US $1.247 billion). 

Bà Rịa-Vũng Tàu becomes the biggest FDI receiver (US $6.485 billion), followed by Hồ Chí Minh City (US $1.04 billion), Bình Dương (US $755 million), Hà Nội (US $367 million), and Đồng Nai (US $281 million). 

FDI sector: Export exceed import

According to Mr. Phan Hữu Thắng, FDI enterprises have significantly contributed to Việt Nam’s narrowed trade deficit. The excess of exports over imports in the sector is valued US $3.49 billion. 

It is estimated that the FDI sector can obtain an export turnover of US $18.67 billion in the first eight months, accounting for 50.1% of the country’s figure.

By Nguyên Hồ

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