Sunday, 19 Nov 2017

Foreign investment capital records $28.24 billion in 10 months

Updated at Friday, 27 Oct 2017, 09:49
The Hanoitimes - Foreign direct investment (FDI) capital registered in Vietnam reached a record US$28.24 billion in the first ten months of this year, up 37.4 percent year-on-year.
Of the sum, $16.3 billion came from 2,070 new projects, up 32.9 percent year-on-year, according to the latest report from the Ministry of Planning and Investment’s Foreign Investment Agency.
Another $7.27 billion was added to 1,001 existing projects, 35.9 percent higher than the same period last year.
The remainder of the FDI, worth $4.67 billion, came from 4,156 deals made by foreign investors to contribute capital to businesses and to buy shares of Vietnamese businesses, jumping 58.8 percent compared with last year’s corresponding period.
Manufacturing and processing remained the top industry in FDI attraction in the first ten months, receiving $13.75 billion.
Manufacturing and processing remained the top industry in FDI attraction in the first ten months, receiving $13.75 billion.
During the reviewed period, FDI disbursement also saw a positive yearly increase of 11.8 percent to $14.2 billion, according to the data.
The FDI firms invested in 19 industries and sectors in the period, of which manufacturing and processing industries remained the top sector, receiving $13.75 billion, accounting for 48.7 percent of the total registered FDI capital.
The electricity production and distribution sector ranked second with $5.63 billion, making up 19.9 percent of the total FDI. The property trading sector was in third place with $2.04 billion, representing 7.2 per cent.
January-September period saw 112 countries and territories investing to Vietnam, of which the Republic of Korea retained its position as the leading investor in Vietnam with $7.62 billion, accounting for 27 percent of Vietnam’s total FDI capital. It was followed by Japan with $6.07 billion, or 21.5 per cent of the total FDI capital, and Singapore with $4.59 billion, or 16.3 per cent.
Among 59 localities receiving FDI during the nine-month period, the southern economic hub of Ho Chi Minh City was at the top with more than $5 billion, accounting for 17.8 percent of the country’s total FDI.
The northern Bac Ninh Province was the runner-up with $3.19 billion, or 11.3 percent of the total FDI. The central Thanh Hoa Province came third with $3.16 billion, or 11.2 per cent.
At present, more than 23,000 FDI companies are operating in Vietnam, contributing up to 22 to 25 per cent of social capital, and up to 15 per cent of the State budget. FDI companies now employ about seven per cent of the country’s total workforce. Furthermore, FDI production accounts for more than 70 per cent of Vietnam’s total export turnover.
However, only 27 percent of total FDI production input is generated by domestic producers, and only about 36 percent of Vietnamese firms now participate in the FDI production network, according to the Ministry of Planning and Investment.
​Thu Ha
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