The amount of disbursed foreign direct investment (FDI) in Vietnam in the first nine months of 2011 maintained a mild growth rate year-on-year while new FDI attractions slumped.
The amount of disbursed foreign direct investment (FDI) in Vietnam in the first nine months of 2011 maintained a mild growth rate year-on-year while new FDI attractions slumped.
Based on reports on FDI disbursement submitted nationwide, the Foreign Investment Agency under the Ministry of Planning and Investment calculated FDI disbursement in September amounted to US$900 million, driving the figure in the year to date up to US$8.2 billion, a 2% year-on-year increase.
However, during the period, 675 new foreign-invested projects, worth US$8.23 billion, were granted licenses, decreasing 31% from the same period last year.
Meanwhile, 178 operating projects received approval to raise their level of capital by a combined US$1.66 billion, decreasing by 3% year-on-year.
Thus, pledged capital has pushed the total FDI registered in January-September up to US$9.9 billion, representing a year-on-year decrease of 28%.
Manufacturing and processing are the leading sectors in terms of FDI attraction with 300 newly-registered projects. Their investment capital totaled US$4.91 billion, accounting for 49.6 % of total registered capital.
Production and distribution contributed US$2.52 billion, 25% of the total figure. The construction sector made up US$689.3 million, occupying 7% while accommodation and catering services attracted US$446.8 million, or 4.5%.
The project of Hai Duong BOT thermo-power plant, developed by Malaysia’s Jaks Resources Berhad Group with total investment of VND2.26 billion, sees the Northern province of Hai Duong become the biggest FDI attraction in the country with US$2.5 billion, making up 25.6% of national FDI.
HCMC was runner-up, with First Solar Vietnam Manufacturing Co., Ltd, a Singaporean-invested project in the sector of manufacturing, worth more than US$1 billion taking the city’s total to US$1.73 billion so far this year.
Dong Nai Province was third with US$640 million whilst Ba Ria-Vung Tau, Binh Duong and Hanoi attracted registered FDI capital of US$580 million, US$545.7 million and US$526 million respectively.
Hong Kong remains the leading investor in Vietnam with total investment capital of US$2.9 billion, accounting for 29.3 % of the country’s FDI, followed by Singapore with US$1.5 billion, a 15.2% proportion.
(Source: SGT)
