Vietnam expects to lure FDI amount of $20b in 2011

Vietnam’s registered inbound foreign direct investment (FDI) amount next year is expected to total around $20 billion thanks to international and domestic favorable conditions, including an actualized amount of $11-11.5 billion ($8-8.5 million of which from foreign partners).

The estimates were cited from Ministry of Planning and Investment’s statement in Dec 30 meeting, by the Thoi Bao Kinh Te Viet Nam newspaper reported on Thursday.

To reach these targets, the government and central authorities in coordination with local governances will have to express their resolve in directing and managing FDi- attracting measures, such as improving legal systems on investment, business, and infrastructure upgrading.

2010 is seen the busiest FDI operations with good performance. Total FDI disbursement is estimated to have reached $11 billion, a year on year growth of 11%, in which that of foreign investors account for $8 billion, up 9.5% and surpassing 2010’s plan.

Total inbound FDI in 2010 has achieved almost $18.6 billion, equaling to 82.2% of 2009, however, this year’s results are encouraged amid the difficult global context, showing Vietnam’s attractive investment environment.

FDI 2010 makes up 25.8% of total social investment capital, higher than 2009’s 25.5%.

The ministry said the export turnover of foreign-funded enterprises gained $38.8 billion, rising 27.8% y-o-y and accounted for 53.1% of the country’s export earnings while their import spending was $36.4 billion, increasing 30% against one year earlier and occupying 42.8% of total import expenditure of Vietnam. – Vietbiz24

Tags: invest in Vietnam, Vietnam FDI, Vietnam FDI 2011, Vietnam investment