First-quarter FDI attraction comes into spotlight

Inflows of foreign direct investment (FDI) have shone a spotlight on the country’s economic growth in the first quarter of this year, featured by the attraction of many large-scale and high-tech projects.
first quarter fdi attraction comes into spotlight

Registered and additional FDI touched US$5.1 billion in the first quarter of 2019, up 30.9 per cent on year.

Mai Tien Dung, Minister-Chairman of the Government Office, made the remark during an April 2 press briefing highlighting the outcomes of the Government’s annual March meeting.

Statistics released from the Foreign Investment Agency under the Ministry of Planning and Investment point out that the total registered, additional, and shared capital of FDI investors leaped by 86.2 per cent on year to US$10.8 billion, hitting a peak over the past three years. Of which, the registered and additional FDI touched US$5.1 billion, up 30.9 per cent on year.

FDI disbursement soared by 6.2 per cent to US$4.12 billion during the reviewed period.

The chairman noted that FDI inflows are forecast to face a range of unpredictable developments that could occur in the global economy in the future.

Local investment and business climate improved considerably during the year’s first quarter, with the number of newly-established businesses reaching the highest level seen in the past five years.

Chairman Dung stressed that the number of newly-established businesses and those preparing to restart their operations exceeded 43,500 in the reviewed period. Of this figure, 28,451 were newly founded, a hike of 6.2 per cent.

According to the General Statistics Office of Vietnam (GSO), the first quarter of 2019 saw GDP value surge by an estimated 6.79 per cent on year, much higher than the ratios seen in the first quarter of the years between 2011 and 2017. Meanwhile, efforts to maintain macroeconomic stability and curb inflation continued to yield impressive results.

The country’s economic growth in the three-month period was largely driven by the processing and manufacturing sector which enjoyed growth levels of 12.35 per cent. By contrast, the mining industry suffered a negative growth rate of 2.2 per cent.

Agro-forestry-aquatic production in particular saw a growth rate of 2.68 per cent, accounting for 4.9 per cent of GDP value. Whilst enjoying growth of 8.63 per cent, industrial production and construction accounted for 51.2 per cent of GDP value. Service sector reaped a growth rate of 6.5 per cent, representing 43.9 per cent of GDP.

Exports enjoyed robust growth in the three-month period. Overseas shipments during March soared by 61.1 per cent to US$22.40 billion.

The country posted a trade surplus of US$1.56 billion in March, reported the General Department of Vietnam Customs.

Source: VNA

Related News

Increasing foreign investment resources from improving the business environment

Increasing foreign investment resources from improving the business environment

VCN - In the 2 years 2024-2025, the proportion of foreign invested enterprises (FDI) expected to expand production and business has decreased compared to previous years, reflecting a more cautious trend of FDI enterprises. due to the impact of the current unpredictable global economic context.
Binh Dinh Customs conducts administrative reform, benefiting businesses

Binh Dinh Customs conducts administrative reform, benefiting businesses

VCN - Binh Dinh Customs Department has made clear changes in administrative reform to facilitate and speed up customs clearance, reducing costs and accelerating exports and production.
Many foreign enterprises find opportunities and expand investment in Vietnam

Many foreign enterprises find opportunities and expand investment in Vietnam

VCN - In the context of the world investment wave shifting, Vietnam has the opportunity to become the world's factory, many foreign enterprises have been looking for investment opportunities as well as expanding investment in Vietnam.

Latest News

New opportunities for Vietnam-Russia trade

New opportunities for Vietnam-Russia trade

The upcoming official visit to Vietnam by Russian President Vladimir Vladimirovich Putin is expected to open up new opportunities in bilateral relations, aiming towards the prosperous development for both sides.
MoIT launches anti-dumping probe into galvanised steel originating from China, RoK

MoIT launches anti-dumping probe into galvanised steel originating from China, RoK

The Ministry of Industry and Trade (MoIT) has requested an investigation and application of anti-dumping measures against some galvanised steel products originated from China and the Republic of Korea (RoK).
Greenovation forum for businesses to be held later this month

Greenovation forum for businesses to be held later this month

Given the rising demand for sustainable development and the associated business opportunities, the Vietnam Independent Directors Association (VNIDA) will host a forum for companies to demonstrate their commitment to both economic interests and environmental responsibility in Ho Chi Minh City on June 26.
Quang Ninh aims to attract 3 billion USD worth of FDI this year

Quang Ninh aims to attract 3 billion USD worth of FDI this year

Northern Quang Ninh province has attracted more than 1.52 billion USD worth of foreign direct investment (FDI) in the first half of this year and is poised to reach its goal of 3 billion USD in FDI for the full year.

More News

Import-export businesses reduce costs thanks to the customs clearance location at Thanh Phuoc Port

Import-export businesses reduce costs thanks to the customs clearance location at Thanh Phuoc Port

VCN - As the first dry port of Binh Duong province to be announced, Thanh Phuoc Port has just been recognized by the Ministry of Finance as a Customs Clearance Site, which is expected to promote the transportation of goods by waterway, to save logistics costs for businesses.
Cashew exports are struggling because of being on passive in raw material sources

Cashew exports are struggling because of being on passive in raw material sources

VCN - For each container of exported cashew kernels, enterprises lose hundreds of millions of dong when they have to import raw materials at high prices, while export prices are not adjusted to increase accordingly.
Quang Ninh strives to become northern region’s marine aquaculture hub

Quang Ninh strives to become northern region’s marine aquaculture hub

The northeastern province of Quang Ninh aims to become a fisheries hub in the northern region by 2030.
Bac Giang lychees promoted in Thailand

Bac Giang lychees promoted in Thailand

Fresh lychees from Luc Ngan district, the northern province of Bac Giang, continue to be sold at the supermarket chain of Gourmet Market and shopping malls belonging to Thailand’s The Mall Group this year.
Quảng Ninh posts fourth fastest growth in Red River Delta

Quảng Ninh posts fourth fastest growth in Red River Delta

The gross regional domestic product (GRDP) in the northern province of Quảng Ninh expanded at an estimated 9.02% year on year during the first half of 2024, ranking fourth in the Red River Delta and eighth nationwide.
New decree to set stage for innovative start-up economy

New decree to set stage for innovative start-up economy

The development of a separate decree on innovation and innovative start-ups is underway with an aim to leverage innovative start-up firms to a new height.
Early US recognition of market economy to increase opportunities for Vietnamese exports

Early US recognition of market economy to increase opportunities for Vietnamese exports

The US's recognition of the market economy in Vietnam will help expand business opportunities for Vietnamese enterprises and pave the way for Vietnamese exports to this market, according to experts.
Industrial production grew on a large scale

Industrial production grew on a large scale

VCN - 55 localities had an increase in the index of industrial production (IIP) compared to the same period last year, only 8 localities had a decrease in IIP compared to the same period last year.
More export opportunities from the Chinese market

More export opportunities from the Chinese market

VCN – Besides 12 fruit and vegetable items; bird's nest, fish meal and some products for the production and processing of animal feed, dairy and seafood products that have been officially exported to China, fresh coconuts, frozen durian, crocodiles, poultry... are expected be officially exported to the Chinese market in the near future.
Read More

Your care

Latest Most read
New opportunities for Vietnam-Russia trade

New opportunities for Vietnam-Russia trade

The upcoming official visit to Vietnam by Russian President Vladimir Vladimirovich Putin is expected to open up new opportunities in bilateral relations, aiming towards the prosperous development for both sides.
MoIT launches anti-dumping probe into galvanised steel originating from China, RoK

MoIT launches anti-dumping probe into galvanised steel originating from China, RoK

The Ministry of Industry and Trade (MoIT) has requested an investigation and application of anti-dumping measures against some galvanised steel products originated from China and the Republic of Korea (RoK).
Greenovation forum for businesses to be held later this month

Greenovation forum for businesses to be held later this month

Given the rising demand for sustainable development and the associated business opportunities, the Vietnam Independent Directors Association (VNIDA) will host a forum for companies to demonstrate their commitment to both economic interests and environmental responsibility in Ho Chi Minh City on June 26.
Quang Ninh aims to attract 3 billion USD worth of FDI this year

Quang Ninh aims to attract 3 billion USD worth of FDI this year

Northern Quang Ninh province has attracted more than 1.52 billion USD worth of foreign direct investment (FDI) in the first half of this year and is poised to reach its goal of 3 billion USD in FDI for the full year.
Import-export businesses reduce costs thanks to the customs clearance location at Thanh Phuoc Port

Import-export businesses reduce costs thanks to the customs clearance location at Thanh Phuoc Port

VCN - According to Director of Binh Duong Customs Department Nguyen Tran Hieu, currently, the majority of import and export goods of businesses in the area are transported by sea.
Mobile Version