411 new FDI projects licensed in two months

Update: 19:37 | 28/02/2018
Vietnam granted investment licences to 411 new projects of foreign investors as of February 20, with a total registered capital of 1.39 billion USD which is equivalent to 68.6 percent of the figure for the same period last year.  
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In addition, 133 FDI projects registered for capital adjustment with additional investment of 700 million USD, a year-on-year fall of 8 percent, according to the Ministry of Planning and Investment's Foreign Investment Agency.

411 new fdi projects licensed in two months
Illustrative image. (Photo: VNA)

Disbursements were estimated at 1.7 billion USD, up over 9.7 percent year-on-year.

In the reviewed period, there were 873 deals made by foreign investors to contribute capital to businesses and to buy shares of Vietnamese businesses with total capital of 1.25 billion USD, a year-on-year rise of 102 percent.

In total, the country attracted FDI worth 3.34 billion USD, or 98.2 percent of the figure of the same period last year.

Manufacturing-processing attracted the most FDI in the period with 1.83 billion USD, accounting for 54.6 percent of the total. Construction ranked second with 345 million USD and estate trading was third with 312 million USD, accounting for 10.3 percent and 9.3 percent of the total, respectively.

Among 60 nations and territories investing in Vietnam in the first two months, the Republic of Korean (RoK) was the biggest investor with 851.2 million USD,

making up 25.5 percent of the total. It was followed by British Virgin Islands with approximately 450 million USD and Singapore with 418 million USD.

Ho Chi Minh City was the top destination for foreign investors, attracting 1.05 billion USD, or 31.27 percent, followed by Binh Duong (434 million USD), Ninh Thuan (253 million USD), or 12.98 percent and 7.6 percent respectively.

Large projects licensed in January-February included the 150 million USD Hanbaram wind-power project in Ninh Thuan province and the 80 million USD garment project funded by Ramatex Nam Dinh in Nam Dinh province, both of Singapore.

A project producing motor vehicle spare parts in Hai Duong province of the Kefico Vietnam Company added 120 million USD to its investment, and a solar panel factory of the Vina Cell Technology Company added 100 million USD.

January saw nearly 1.25 billion USD of FDI poured into Vietnam, equal to 75.9 percent of the figure in the same period last year.

In 2017, Vietnam remained an attractive destination for foreign investors with total FDI capital registered in the country hitting a record high of 35.88 billion USD, up 44.4 percent year on year.

FDI disbursement last year also reached a record high, increasing by 10.8 percent to 17.5 billion USD. 

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(Source: VNA)