Vietnam attracts 23.48 bln USD in FDI in 10 months

Illustrative image (Source: VNA)

Vietnam has attracted 23.48 billion USD worth of FDI in the first 10 months of this year, equal to 80.6 percent of the figure in the same period last year, the Ministry of Planning and Investment (MPI) has reported.

From January to October, 2,100 new projects have been licensed with total registered capital of 11.66 billion USD, down 32.1 percent in volume and 9.1 percent in value year-on-year.

Just over 900 projects have increased their capital, by an additional 5.71 billion USD, down 20.8 percent in project numbers but up 4.4 percent in capital, the ministry said.

It attributed the rise in capital to the 1.38 billion USD added to a petrochemical complex of a Thai investor in the southern province of Ba Ria-Vung Tau, while the Tay Ho Tay project - a mega urban area project close to West Lake in Hanoi and invested by the Republic of Korea (RoK) - increased investment by 774 million USD.

Foreign companies have invested 6.11 billion USD during the period through capital contributions and share purchases, representing a year-on-year decline of 43.5 percent.

The Foreign Investment Agency under the MPI said that about 15.8 billion USD has been disbursed in the first 10 months, equal to 97.5 percent of the figure in the same period last year.

Processing and manufacturing remains the most attractive sector for foreign investors, drawing in 10.7 billion USD and representing 45.7 percent of committed FDI. Power production and distribution follows, with over 4.8 billion USD (20.5 percent of the total), then real estate and wholesale.

Among the 109 countries and territories investing in the country, Singapore is the largest, with 7.51 billion USD, followed by the Republic of Korea (RoK) with 3.42 billion USD, and China with 2.17 billion USD.

The Mekong Delta province of Bac Lieu retains its position as the largest FDI recipient during the period, with 4 billion USD, accounting for 17 percent of the total. HCM City ranks second with 3.7 billion USD, or 14.6 percent, followed by Hanoi with 3.13 billion USD.

Exports by the foreign-invested sector (including crude oil) in the first 10 months are worth 147.97 billion USD, or 97.6 percent of last year’s value. Exports excluding crude oil stand at 146.52 billion USD, or 97.8 percent.

Imports by the sector have totalled 117.56 billion USD, or 97 percent of the figure last year. The sector therefore posts a trade surplus in the first 10 months of 30.4 billion USD including crude oil and nearly 30 billion USD excluding.