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Yearly FDI down

Released at: 12:51, 25/11/2014

Yearly FDI down

FDI to Vietnam in 11M 2014 fell 16.7 per cent against last year.

by Thong Dat

The latest report from the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment showed that as at November 20 Vietnam had granted licenses to 1,427 new foreign direct investment (FDI) projects capitalized at $13.41 billion, while some $3.92 billion was added to 515 existing projects. The $17.33 billion total was down 16.7 per cent compared with the same period last year. Disbursement, though, recorded a yearly increase of 6.2 per cent, to $11.2 billion.

During the first eleven months the manufacturing and processing sector attracted the lion's share of FDI, at $13.15 billion, or 75.9 per cent of the total. Real estate was second, with $1.27 billion, accounting for 7.3 per cent, followed by construction, with $1.02 billion or 5.9 per cent of the total.

So far this year some 60 countries and territories have had projects in Vietnam. South Korea is expected to top other FDI contributors with total registered and added capital of $6.82 billion, accounting for 39.4 per cent of the country's total FDI, followed by Singapore and Japan with $2.75 billion and $1.71 billion, respectively.

In the eleven months FDI projects were seen in 50 out of Vietnam's 63 cities and provinces. Northern Thai Nguyen province took the lead, with $3.27 billion, making up 18.9 per cent of the total, followed by Ho Chi Minh City, with $3.01 billion or 17.4 per cent.

Major projects licensed in the period include the second stage of the Samsung Thai Nguyen High-tech Complex, with $3 billion, the Samsung CE Complex in Ho Chi Minh City with $1.4 billion, the Samsung Display project in northern Bac Ninh province with $1 billion, and the $300 million project of Texhong Ngan Ha in northern Quang Ninh province.

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