Vietnam attracts nearly VND10.8 Bln FDI in eight months

Vietnam had licensed 658 new projects worth US$10.79 billion in the first eight months of 2010, up 41 percent in value from the same period of last year. This figure is relatively good result given the current economic context. Also during this January-August period, the country allowed 143 projects to add US$787 million to their projects, 14.2 percent from a year earlier.

Foreign investors disbursedUS$7.25 billion in the eight months, up 3.6 percent year on year. Exports of the FDI sector including crude oil were estimated to reach US$23.94 billion, up 26.6 percent on year but the figure was US$20.65 billion if crude oil was excluded, up 39.9 percent. Trade surplus of this sector was US$1.59 billion in the eight months of the year, compare with a trade deficit of 8.16 billion incurred by the nation. If crude oil was excluded, the FDI sector suffered a trade deficit of US$1.7 billion, accounting for 19.7 percent of the country’s trade gap.

If both fresh and additional capital is counted, Vietnam lured US$11.57 billion in the first eight months, equal to 87.7 percent of the same period in 2009. Particularly, manufacturing industry topped foreign investors’ interest with US$$3.7 billion and 265 projects.

With six licensed investment projects in the first eight months, the electricity, gas and water production and distribution field ranked second with a total investment capital registered US$2.94 billion, accounting for 25.4 percent of total registered investment capital in the first eight months.

The real estate sector remained at the third position with US$2.39 billion of fresh capital, accounting for 20.7 percent of total investment capital registered in first eight months. 16 fresh projects registered to invest US$2.36 billion.

In the eight months of 2010, 47 countries and territories have invested in Vietnam, with the largest investor being the Netherlands with a total registered investment capital of US$2.2 billion, accounting for 19.2 percent of total investment capital in Vietnam, followed by South Korea with US$1.92 billion, accounting for 16.5 percent, and the United States with US$1.87 billion, accounting for 16.2 percent. Kenya made a investment debut in Vietnam with one project worth US$16 million.

Ba Ria – Vung Tau province is the most attractive to foreign investors with US$2.23 billion in the eight months, followed by Quang Ninh, Ho Chi Minh City and Nghe An with US$2.15 billion, US$1.25 billion and US$1 billion, respectively. – VCCI

Tags: invest in Vietnam, Vietnam FDI, Vietnam investment