Hanoi licenses 65 new FDI projects worth over US$13 million in August
As of August 20, 540 new projects have been approved with total commitments of US$284 million in the eight-month period, while 130 existing projects have been injected an additional US$362 million.
In August, Hanoi issued investment licenses for 65 new FDI projects with a combined registered capital of US$13.1 million, according to the municipal Statistics Department.
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In the year to August 20, 540 new projects have been approved with total commitments of US$284 million in the eight-month period, while 130 existing projects have been injected an additional US$362 million.
During this period, nearly US$5.17 billion in capital has been contributed by foreign investors via share purchases.
The municipal department did not give comparative figures for the period.
Hanoi continues to remain an attractive destination for foreign investors nationwide, totaling US$14.05 billion in the 2016 – 2018 period, a 2.25-fold increase compared to the 2011 – 2015 period.
In 2018, Hanoi attracted an all-time high of US$7.5 billion in FDI commitments, up 2.18-fold against the previous year. This was the largest amount of FDI recorded in Hanoi after 30 years of Vietnam’s opening up policy, cementing the capital city as an ideal investment destination, said Tran Ngoc Nam, deputy director of the municipal Department of Planning and Investment, in a meeting last December.
Hanoi continued to attract the largest portion of FDI nationwide during the six-month period of 2019, posting US$5.3 billion, accumulating a total of US$41.2 billion in registered capital so far, of which US$20.5 billion has been disbursed or 49.7% of the total.
In addition to real estate, manufacturing and processing, Hanoi has attracted a large portion of FDI into high technologies, water supply, waste treatment and education, among others.
In the remaining months of 2019, the capital sets the target of attracting high quality FDI projects in infrastructure development, smart city, logistics, trade, tourism and biotechnology.
Hanoi plans to disburse over US$2.3 billion of FDI in 2019.
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Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
- Growing number of FDI firms moving to Vietnam
- Vietnam Gov’t committed to facilitating Adani Group’s US$2-billion port project
- Vietnam Railway proposes US$87 million for Hanoi–Dong Dang railway upgrade
- Vietnam’s North-South high-speed railway to be designed for 350km/h
- Vietnamese gov’t urged to address impact of global minimum tax
- Samsung plans drastic investment increase in Vietnam over next three years