Vietnam fdi attraction plunges 48% in jan-april

Vietnam foreign direct investment (FDI) attraction is estimated to have tumbled by 47.8% to $4.02 on-year in Jan-April

Vietnam foreign direct investment (FDI) attraction is estimated to have tumbled by 47.8% to $4.02 on-year in Jan-April, the online newspaper CafeF reported on April 25, citing the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).

April is the fourth straight month FDI attraction has dropped since the beginning of this year.

However, the 4-month FDI disbursement is estimated to slightly increase to $3.62 billion, up 0.6% on-year.

The country licensed 262 new FDI projects worth $3.205 billion, down 55.9% on-year. The country also allowed 88 existing projects to extend their capital by $819 million, sharply up 36.8% on-year.

The processing and manufacturing industry sector remained the most attractive area for foreign investors with nearly $2 billion new capital registration and $455.3 million capital raising worth of 75 existing projects, contributing 61% total FDI attraction in Jan-April

Ho Chi Minh City, Hanoi, Da Nang, Ninh Thuan and Bac Giang topped among 64 local cities and provinces in attracting FDI in Jan-April.

Singapore took the lead in the list of foreign investors in Vietnam, followed by Hong Kong, Malaysia, Korea and Japan, the agency said without exact figure.

Last month, the FDI disbursement in Vietnam is estimated to have set a new record high at VND1.4 billion in March, even higher than the first two months of this year.

The FDI enterprises run a trade surplus of $0.835 billion including $1.73 million export revenue of crude oil in the first four months of this year. – Stoxplus.com

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