Nearly 7 billion USD of FDI pumped into Vietnam after four months of 2016
As of April 2016, the total of newly registered and additional capital from foreign direct investment (FDI) projects in Vietnam was estimated at 6.88 billion USD, up 85% over the same period last year, the Foreign Investment Department said.
According to the Foreign Investment Department under the Ministry of Planning and Investment, in the first 4 months of 2016, Vietnam granted investment licenses to 697 new projects with a total registered capital of 5.08 billion USD, up 89.9% over the same period in 2015.
During the reviewed time, the country allowed 314 registered projects to increase capital by 1.8 billion USD, up 72.4%.
As of April 2016, the total of newly registered and additional capital was estimated at 6.88 billion USD, up 85% over the same period last year.
The disbursement of projects also increased by 12% over the same period in 2015 while the projects of foreign direct investment (FDI) has disbursed 4.65 billion USD.
In the period, the processing and manufacturing industry has attracted the largest FDI among 19 industry sectors with 299 registered projects, the total of new and additional capital at 5.24 billion USD, accounting for 76.2% of total capital.
In January-April, nearly 3.5 billion USD of foreign FDI was poured into industrial and economic parks across the country, with the number expected to increase to 11 billion USD by year’s end.
Along with FDI projects, industrial and economic parks also drew nearly 350 domestic ones worth 8.5 trillion VND, mainly in high-quality apparel products and support industries for mechanics and textiles.
HCM City and Dong Nai province attracted signifcant investments.
The ministry’s Department for Economic Zones Management anticipates industrial parks will attract about 9 billion USD in FDI and 50 trillion VND in domestic investment in industrial parks, raising the total amount of foreign and domestic investment to around 109 billion USD and 600 trillion VND (27 billion USD) by the end of 2016.
FDI continues to pour into industrial and economic parks, accounting for nearly 70% of the country’s total foreign investment, the department said.
As of April 2016, Vietnam had 310 industrial parks, 217 of which came into operation, spanning over 58,000 hectares with nearly 70 percent of filled land sites. Sixteen economic zones were set up on an area of 814,792 hectares.
During the reviewed time, the country allowed 314 registered projects to increase capital by 1.8 billion USD, up 72.4%.
As of April 2016, the total of newly registered and additional capital was estimated at 6.88 billion USD, up 85% over the same period last year.
The disbursement of projects also increased by 12% over the same period in 2015 while the projects of foreign direct investment (FDI) has disbursed 4.65 billion USD.
Hai Phong city granted the investment license to LG Display project worth 1.5 billion USD in early this year.
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In January-April, nearly 3.5 billion USD of foreign FDI was poured into industrial and economic parks across the country, with the number expected to increase to 11 billion USD by year’s end.
Along with FDI projects, industrial and economic parks also drew nearly 350 domestic ones worth 8.5 trillion VND, mainly in high-quality apparel products and support industries for mechanics and textiles.
HCM City and Dong Nai province attracted signifcant investments.
The ministry’s Department for Economic Zones Management anticipates industrial parks will attract about 9 billion USD in FDI and 50 trillion VND in domestic investment in industrial parks, raising the total amount of foreign and domestic investment to around 109 billion USD and 600 trillion VND (27 billion USD) by the end of 2016.
FDI continues to pour into industrial and economic parks, accounting for nearly 70% of the country’s total foreign investment, the department said.
As of April 2016, Vietnam had 310 industrial parks, 217 of which came into operation, spanning over 58,000 hectares with nearly 70 percent of filled land sites. Sixteen economic zones were set up on an area of 814,792 hectares.
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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