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FDI rising considerably

Released at: 15:44, 25/09/2015

FDI rising considerably

Foreign investment in the first nine months much higher than in 2014.

by Son Ho

As at September 20 Vietnam had 1,432 newly-licensed foreign direct investment (FDI) projects this year with registered capital of $11.03 billion, a 44.5 per cent increase in capital year-on-year.

There were also 461 projects that increased their investment, adding $6.11 billion to the total; 72.6 per cent higher than in the same period last year.

New project capital and additional capital therefore totaled $17.15 billion, a 72.6 per cent increase against the same period of 2014.

The Ministry of Planning and Investment said that the significant increase in FDI in the first nine months was due to major projects being licensed in August and September. For example, the Coastal 2 Thermal Power Plant in the Mekong Delta’s Tra Vinh province, invested by Janakuasa from Malaysia, has capital of $2.4 billion, while Samsung Display added $3 billion to its investment in northern Bac Ninh province.

It was also estimated that FDI projects disbursed $9.65 billion in the first nine months, an 8.4 per cent increase compared to the same period last year. Disbursement in September stood at $550 million.

Minister of Planning and Investment Bui Quang Vinh said previously that the goal for 2015 is to attract FDI of $23 billion with disbursement of $12.5 billion. This means that, after nine months, new and additional FDI was equal to 74.5 per cent the plan.

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