Foreign investors registered nearly US$8.43 billion in FDI in the first half of the year, according to the Foreign Investment Agency (FIA) under the...
Foreign investors registered nearly US$8.43 billion in FDI in the first half of the year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
The figure includes $525 million of additional capital for 121 existing projects, a year-on-year increase of 11 percent in value, and $7.9 billion of newly-licensed projects, a rise of 43 percent in terms of capital compared to the same period last year.
In June, 78 new projects were licensed with total registered capital of over $800 million while 14 current projects asked for a combined capital raising of $122 million.
FIA also reported that as many as $5.4 billion of FDI were disbursed in the period, representing a year-on-year increase of 6 percent.
During the period, production in FDI sector saw strong recovery.
The sector exports, including crude oil, reached $17.2 billion, a year-on-year rise of 26.2 percent.
Meanwhile, imports were estimated at $16.1 billion, up 49 percent over the same period last year.
Foreign investors poured $4.5 billion into Vietnam (FDI Vietnam) in Foreign direct investment (FDI) in the first five months of the year, up 7 percent from the same period last year, a government agency said on Thursday.
‘This disbursement pace is appropriate for the year’s disbursement forecast’, the Ministry of Planning and Investment’s Foreign Investment Agency said in a statement on its website (fia.mpi.gov.vn).
It did not give details about foreign direct investment (FDI) disbursements in May alone or the month’s new pledges.
In April, Vietnam received $1.1 billion in FDI, down from $1.4 billion in March.
New FDI pledges and increased capital for existing projects in the January-May period fell 23 percent from a year earlier to $7.5 billion, the foreign investment agency said.
Last year foreign direct investment inflows fell 13 percent to $10 billion while the value of new pledges plunged by 75.6 percent, the government said.
Foreign direct investment (FDI Vietnam), along with overseas remittances, are a key source of foreign exchange helping Vietnam offset its trade deficit.
In February, Planning and Investment Minister Vo Hong Phuc said that disbursement of foreign direct investment (FDI) in Vietnam could rise 10 percent to between $10 billion and $11 billion this year thanks to the recovery in the global economy
“Disbursed capital in 2010 will be higher than in 2009 as the flows of pledges in previous years are high and the world’s economy tends to recover,” Planning and Investment Minister Vo Hong Phuc was quoted by Finance Ministry-run Vietnam Financial Times as saying.
Phuc said FDI pledges in 2010 were also expected to rise by around 10 percent to between $22 billion and $25 billion.
