Vietnam Draws $17b in FDI in 9 Months
World Economy

Vietnam Draws $17b in FDI in 9 Months

Vietnam drew $17 billion worth of foreign direct investment in the past nine months of the year, the planning and investment ministry said. The figure represents a year-on-year increase of more than 53%.
It includes $11 billion worth of 1,432 newly licensed projects, up 44% over the same period last year. The remaining capital came from 461 FDI projects that received licenses to increase their investment capital, a year-on-year increase of 73%, VNS reported.
The ministry said during a meeting on September 26 that there was a sharp increase in FDI in the past nine months in comparison with the same period last year, as a result of large-scale projects that were granted licenses in August and September.
These projects include the Duyen Hai 2 thermal power plant by a Malaysian investor with a total investment capital of $2.4 billion in the Mekong Delta province of Tra Vinh, and the $3 billion expansion of South Korea’s Samsung Display Project in Bac Ninh Industrial Zone.
The FDI disbursement in the nine-month period reached nearly $10 billion, a year-on-year rise of 8%.
Foreign investors invested in 49 provinces and cities during the period, with Bac Ninh continuing to be the top FDI destination in the country, followed by HCM City and the southern Dong Nai Province.
The Republic of Korea is still the leading investor in Vietnam, followed by Malaysia, the United Kingdom and the British Virgin Islands, according to the ministry’s foreign investment agency.
Manufacturing and processing continued to be the most attractive sector, with real estate coming in second place.
Vietnam has set a goal of luring $23 billion FDI this year, with FDI disbursement expected to hit approximately $12.5 billion.

Short URL : https://goo.gl/PAbI5a
  1. https://goo.gl/Hi3Z5X
  • https://goo.gl/AIUHcN
  • https://goo.gl/kSusZS
  • https://goo.gl/LhGs73
  • https://goo.gl/jXijwP

You can also read ...

Dubai’s new business licenses in the second quarter of 2018 were down 26% from the same period in 2016.
In Dubai’s posh Jumeirah Beach residence district, luxury...
French Foreign Minister Jean-Yves Le Drian addresses CEDRE Conference in Paris on April 6, with Lebanese Prime Minister Saad Hariri on his right.
With the FIFA World Cup over and French victory secured,...
Handout picture shows IMF Managing Director Christine Lagarde on a screen as she speaks  during the G20 meeting taking place in Buenos Aires, on July 21.
The International Monetary Fund warned world economic leaders...
Germany Lifts Turkey Sanctions
Germany has lifted economic sanctions on Turkey and relaxed...
Australia  Faces Massive Economic Crash
Australia is facing an economic shock akin the global...
IFC to Inject $2 Billion in Egypt’s Private Sector
International Finance Corporation, a member of the World Bank...
According to a survey, 75.3% are facing difficulties in running their businesses this year.
South Korea’s major business lobby said Sunday it will file an...
Farnborough Airshow Announces $192b in Orders
England’s Farnborough airshow this week saw deals worth $192...