FDI inflow to Vietnam in first 9 months surpasses yearly target

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FDI inflow to Vietnam in first 9 months surpasses yearly target

(Xinhua) 20:05, September 27, 2013

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Total foreign direct investment (FDI) to Vietnam in the first nine months of 2013 increased over 36 percent to hit more than 15 billion U.S. dollars, surpassing this year's set target of 13-14 billion dollars, according to the Vietnamese Ministry of Planning and Investment.

As of Sept. 20, Vietnam has granted licenses to 872 new FDI projects (down 7.3 percent) with total registered capital of over 9.29 billion dollars (up 34.9 percent). Meanwhile, 444 on-going projects have expanded capital of 5.71 billion dollars, up 37.9 percent.

Of the overall figure, nearly 13 billion dollars went to the processing and manufacturing sector, followed by the real estate with 587.5 million dollars.

Japan remained the largest investor in Vietnam with newly- registered and added capital of 4.74 billion dollars, followed by Singapore with 3.95 billion dollars and South Korea with 2.64 billion dollars.

LG's new project in northern Hai Phong city with registered capital of 1.5 billion U.S. dollars boosted the FDI inflow sharply increasing in September, and thus helping the country surpass its yearly target in FDI attraction.

Other major FDI projects expanded investment capital during the 9-month period included Samsung's two projects in northern Bac Ninh province (1 billion U.S. dollars) and another project in Thai Nguyen province (2 billion U.S. dollars), Russia's project to manufacture buses in central Binh Dinh province (1 billion dollars) , and the Nghi Son Oil Refinery joint venture in central Thanh Hoa province (2.8 billion dollars).

During the reviewed period, the FDI sector pocketed 58.4 billion dollars from exports (excluding crude oil), a year on year increase of 27 percent and accounting for 60.6 percent of the country's total export value.

As a result, the sector recorded a trade surplus of nearly 4 billion dollars (if crude oil excluded), or 9.45 billion dollars ( if crude oil included).

As of Sept. 20, the FDI projects disbursed 8.62 billion dollars, up 6.4 percent over the same period last year, report said.

（Editor：YanMeng、Gao Yinan）