FDI disbursement up 7.1% to US$12 billion in Jan-Aug
FDI commitments in the January – August period reached US$22.6 billion, down nearly 7% year-on-year.
Disbursement of FDI projects in Vietnam totaled US$12 billion in the first eight months this year, representing an increase of 7.1% year-on-year, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.
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According to the agency, 2,406 new projects have been approved with total commitments of US$9.1 billion in the period, down 32%, while 908 existing projects have been injected an additional US$3.9 billion, down 28.6%.
During this period, 5,235 projects have had US$9.5 billion in capital contributed by foreign investors, up 82% year-on-year.
As of August 20, 132 countries and territories have invested in Vietnam in 29,531 projects with registered capital of US$353.7 billion, of which South Korea claimed the top spot, followed by Japan, Singapore and Taiwan (China).
In the January – August period, exports from the foreign invested sector (excluding crude oil) stood at US$117.9 billion, while imports reached US$96.1 billion, resulting in trade surplus of US$21.8 billion.
Some of the big-ticket projects in the January – August period include US$3.85 billion in capital contribution from Hong Kong-based Beerco Limited to Vietnam Beverage for a beer project in Hanoi; the US$260-million electronic manufacturing plant by Goertek (Hong Kong) located in Bac Ninh province; tire manufacturing plant worth US$280 million from a Chinese investor in Tay Ninh province and a similar project worth US$214.4 million financed by Guizhou Advance Type Investment (China) in Tien Giang province; and a solar power project worth US$216.7 million from Thailand’s investors in Phu Yen province.
Recently, Vietnam’s Politburo has issued a resolution providing guidance on perfecting the legal framework and policies towards greater efficiency in foreign investment until 2030.
The resolution sets target for FDI commitments in the 2021 – 2025 period at US$150 – 200 billion, averaging US$30 – 40 billion per year, and disbursement of US$100 – 150 billion during the period.
In the 2026 – 2030 period, FDI commitments would reach US$200-300 billion and disbursement of US$150 – 200 billion.
The rate of enterprises using advanced and environmentally-friendly technologies, as well as modern corporate governance to increase by 50% by 2025 and 100% by 2030 against 2018.
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