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7M FDI exceeds $20bn

Released at: 10:21, 28/07/2017

7M FDI exceeds $20bn

Illustrative image (Source: vafie.org.vn)

Processing and manufacturing led by sector in first seven months, Thanh Hoa province by destination, and South Korea by source.

by Luong Nhi

As at July 20, total foreign direct investment (FDI) into Vietnam stood at some $21.9 billion, with disbursed capital at $9.05 billion, an increase of 5.8 per cent year-on-year.

Foreign investors invested in 18 sectors in the first seven months, with processing and manufacturing attracting the most, at $10.83 billion, accounting for 49.4 per cent of registered capital during the period.

Electricity production ranked second, with total capital of $5.25 billion and contributing 23.98 per cent of registered capital. Mining was third, with investment of $1.28 billion, accounting for 5.86 per cent of capital.

Ninety-eight countries and territories invested in Vietnam during the period. South Korea led the way, with total capital of $5.62 billion, or 25.63 per cent. Japan was second, with $5.46 billion, or 24.92 per cent, followed by Singapore with $3.8 billion, or 17.3 per cent.

Foreign investment went to 60 cities and provinces in the period. North-central Thanh Hoa province attracted the most, with a $2.7 billion electricity project bringing its total to $3.06 billion, accounting for 13.9 per cent of the country’s total. Northern Bac Ninh followed, with $2.95 billion, accounting for 13.48 per cent, then northern Nam Dinh province with $2.2 billion, or 10 per cent.

Large projects licensed in the first seven months of the year included the coal-fired power plant from a Japanese investor in Thanh Hoa province worth $2.793 billion, a Samsung Display Vietnam project in Bac Ninh province adding capital of $2.5 billion, a coal-fired power plant from a Singaporean investor in Nam Dinh with $2.07 billion in investment, and a gas pipeline project from a joint venture between a Japanese investor and PetroVietnam with registered capital of $1.27 billion.

Exports by the foreign-invested sector (including crude oil) in the first seven months was $83.05 billion, up 20.3 per cent year-on-year and accounting for 72 per cent of export turnover. Excluding crude oil, exports by the foreign-invested sector were $81.26 billion, up 20 per cent year-on-year and accounting for 70.53 per cent of total export turnover.

Imports by the foreign-invested sector in the period were $71.35 billion, up 28.1 per cent and accounting for 60.3 per cent of all import turnover. The sector therefore recorded a trade surplus of $11.69 billion (including crude oil) and $9.9 billion (excluding crude oil).

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