1 minute read
FDI inflows into Vietnam rise slightly in 10 months
nguyen Huong
Advertisement
Total FDI inflows into Vietnam during the first 10 months of the year rose by 1.1 percent on-year to USD23.74 billion.
According to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment, as of 20 October, USD13 billion was poured into 1,375 newlylicensed projects, down 34.5 percent in the number of projects and up 11.6 percent in value over the same period last year. Besides this, USD7.09 billion was added into 776 projects currently underway, a decrease of 14.4 percent in the number of projects and a rise of 24.2 percent in value against the year prior. Foreign investors also poured USD3.63 billion into share purchase deals, down 40.6 percent on-year.
The FIA reported that newly- and additionally-registered FDI remained on an uptrend, however, the on-year increase for the first 10 months was lower than for the first nine months.
The decrease in the number of new and expanded projects was attributed to travel restrictions and long quarantine policy, which made it hard for foreign investors to survey projects.
In the first 10 months, foreign direct investment disbursement reached USD15.15 billion, a decrease of 4.1 percent on-year, and only 0.6 percentage points more than in the first nine months.
Among the 18 sectors receiving investment from foreign investors in the first 10 months of this year, processing and manufacturing took the lead with USD12.74 billion, accounting for 53.7 percent of the total FDI. It was followed by power production and distribution with over USD5.54 billion, making for 23.3 percent, followed by real estate, and wholesale, retail.
Singapore is the leader among the 97 countries and territories investing in Vietnam in the period, with a total investment capital of nearly USD6.77 billion, followed by South Korea (USD4.15 billion), and Japan (USD3.4 billion).
The export turnover of FDI sector continued to increase in the first 10 months. The sector’s import turnover was estimated at USD176.9 billion, an increase of 31.3 percent on-year. Generally, in the first 10 months, the trade surplus of the FDI sector was about USD21.2 billion (including crude oil), while the trade deficit of local enterprises was USD23.2 billion.
