Wednesday, 22 Nov 2017

Vietnam licensed 2017 second billion dollar FDI project

Updated at Friday, 05 May 2017, 16:33
The Hanoitimes - The Block B of O Mon Gas Pipeline Project worth 1.27 billion dollars received investment license last April.

The project is a joint venture between Japan investment capital and Vietnamese  PVN and PVGAS to be executed in Kien Giang province. It is the  the second billion dollar project licensed in Vietnam  so far this year after the Samsung Display project.

According to the General Statistics Office, as of April, 734 new FDI projects have been licensed with registered capital of $88 billion, up by 5.3% in number of projects and down 4% in registered capital year-on-year.

In the first four months of 2017, the manufacturing and processing sector receives the largest  amount of  foreign direct investment (FDI)  with registered capital of over $2.5 billion, accounting for 52.9% of the total newly registered capital; The mining sector attracted over $ 1.27 billion, making up 26.2% of the registered capital. The remaining sectors drew more than 1.02 billion dollars, representing  20.9% of the total capital

Including the additional capital of the already  licensed projects and capital contribution, the total foreign investment capital in the manufacturing and processing industry reached  $7.3 billion in the first four months of 2017, accounting for 69.5% of the total registered capital; the remaining sectors attained more than 1.9 billion dollars, accounting for 18.4%.

As of newly registered capital, Japan is currentlly Vietnam’s  largest investor with $ 1.5 billion dollars, accounting for 31.2% of the total newly-registered capital; the second one is Korean investor with more than $1 billion, accounting for 22.4%; China comes in third  place with 735.2 million, accounting for 15.1%.

By Ha Thanh - Tuan Minh
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