FDI's attraction rises 27% year on year in project number
As of December 26, the number of projects of foreign direct investment granted licences in 2016 was 2,556 with 15.1 billion USD in total register capital, up 27 percent year on year in project number but equal to just 97.5 percent of capital, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
The number of foreign direct investment (FDI) projects granted licences in the year was 2,556 with 15.1 billion USD in total register capital, up 27 percent year on year in project number but equal to just 97.5 percent of capital.
In 2016, the country had 1,225 projects asked to add 5.76 billion USD to their capital.
As of December 26, disbursement of FDI capital in the year was estimated at 15.8 billion USD, a record high and up 9 percent on a yearly basis, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
Besides, foreign investors purchased stakes worth more than 3.4 billion USD in 2,547 firms and economic organisations. All in all, FDI capital inflow in 2016 reached 24.4 billion USD.
The FDI sector recorded an estimated export value (including crude oil) of 125.9 billion USD for the year, up 10.2 percent from 2015 and accounting for 71.55 percent of the country’s total export revenue. Non-oil export value was estimated at 123.55 billion USD, rising 11.8 percent against 2015 and accounting for 70.2 percent of the country’s total export revenue.
According to the Foreign Investment Agency, the drop in new registered capital and additional capital was attributable to a lack of large-scale projects.
The FDI was poured into 19 sectors, the manufacturing and processing sector lured the largest share of FDI capital with 63.7 percent or 15.53 billion USD, followed by the automobile and motorbike wholesale, retail and repair with 7.79 percent (nearly 1.9 billion USD), and real estate with 6.9 percent (1.68 billion USD).
Most remarkable among new FDI projects licensed in 2016 include the LG Display Hai Phong worth 1.5 billion USD invested by the RoK’s LG Display Co Ltd, the 550 million USD LG Innotek Hai Phong, invested by LG Innotek also of the RoK, and the Dam Nha Mac sea port-industrial park complex in Quang Ninh worth 315.46 billion USD invested by CDC of the Cayman Islands.
Two major projects, the 2.5 billion USD Nghi Son 2 power plant and the 2.5 billion USD Vung Ang 2 power plant, were initially hoped to receive licences this year, but they have now been delayed to 2017.
Among 95 countries and territories investing in Vietnam in 2016, the Republic of Korea topped in the term of capital with 7 billion USD (28.8 percent of the total). Japan came second with 2.58 billion USD (10.62 percent), and Singapore was third with 2.41 billion USD (9.9 percent).
HCM City led cities and provinces across the country in attracting FDI, absorbing 3.42 billion USD (14 percent of the total). The northern port city of Hai Phong came second with 2.98 billion USD (12.26 percent). Hanoi, Binh Duong and Dong Nai followed with 2.79 billion USD, 2.36 billion USD and 2.23 billion USD, respectively.
In 2016, the country had 1,225 projects asked to add 5.76 billion USD to their capital.
As of December 26, disbursement of FDI capital in the year was estimated at 15.8 billion USD, a record high and up 9 percent on a yearly basis, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
Besides, foreign investors purchased stakes worth more than 3.4 billion USD in 2,547 firms and economic organisations. All in all, FDI capital inflow in 2016 reached 24.4 billion USD.
The most remarkable new FDI project licensed in 2016 is the LG Display Hai Phong worth 1.5 billion USD
|
According to the Foreign Investment Agency, the drop in new registered capital and additional capital was attributable to a lack of large-scale projects.
The FDI was poured into 19 sectors, the manufacturing and processing sector lured the largest share of FDI capital with 63.7 percent or 15.53 billion USD, followed by the automobile and motorbike wholesale, retail and repair with 7.79 percent (nearly 1.9 billion USD), and real estate with 6.9 percent (1.68 billion USD).
Most remarkable among new FDI projects licensed in 2016 include the LG Display Hai Phong worth 1.5 billion USD invested by the RoK’s LG Display Co Ltd, the 550 million USD LG Innotek Hai Phong, invested by LG Innotek also of the RoK, and the Dam Nha Mac sea port-industrial park complex in Quang Ninh worth 315.46 billion USD invested by CDC of the Cayman Islands.
Two major projects, the 2.5 billion USD Nghi Son 2 power plant and the 2.5 billion USD Vung Ang 2 power plant, were initially hoped to receive licences this year, but they have now been delayed to 2017.
Among 95 countries and territories investing in Vietnam in 2016, the Republic of Korea topped in the term of capital with 7 billion USD (28.8 percent of the total). Japan came second with 2.58 billion USD (10.62 percent), and Singapore was third with 2.41 billion USD (9.9 percent).
HCM City led cities and provinces across the country in attracting FDI, absorbing 3.42 billion USD (14 percent of the total). The northern port city of Hai Phong came second with 2.98 billion USD (12.26 percent). Hanoi, Binh Duong and Dong Nai followed with 2.79 billion USD, 2.36 billion USD and 2.23 billion USD, respectively.
12:17, 2025/02/25
Vietnam eyes top 3 in investment environment in ASEAN next 2 years: Party Chief
A key objective is to trim off at least 30% of administrative procedures and cut both business costs and unofficial fees.
18:03, 2025/02/22
Vietnam attracts South Korean tech investment at SEMICON Korea 2025
The event provided a platform for Vietnam to showcase its semiconductor potential and reaffirm its commitment to developing high-tech industries and strengthening international cooperation.
16:46, 2025/02/20
Swedish group plans US$1 billion investment in Binh Dinh recycling plant
By creating a large number of jobs and promoting a green economy, the initiative is important in establishing Vietnam as a global hub for the circular textile sector.
10:52, 2025/02/13
Samsung plans to invest in AI, semiconductors in Vietnam
Vietnam will continue improving its investment environment and driving strategic breakthroughs in order to usher in a new era of economic development.
17:20, 2025/02/07
Vietnam's data center construction costs among the lowest in Asia Pacific
The country has a lot of potential to become one of the most important data markets in the region.
21:05, 2025/02/03
Bright prospects for FDI inflows into Vietnam in 2025
Market size, growth potential, low labor costs, and stable political and social conditions continue to be Vietnam’s selling points in attracting foreign investors.
- Foreign companies confirm investment expansion in Vietnam in 2025
- PM invites Skoda to manufacture electric vehicles in Vietnam
- US Berggruen Holdings to help Vietnam set up investment funds
- Vietnam releases Esports White Book 2022-2023
- Aircraft manufacturer Embraer seeks comprehensive aviation partnership with Vietnam
- Better links with FDI firms to support Hanoi businesses