FDI disbursement in eight months posts record high

September 13, 2022 | 16:04

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Foreign-invested enterprises in Vietnam are recovering well and focusing on production and business expansion, with disbursement reaching a record high in the first eight months of 2022, according to director of the Ministry of Planning and Investment’s Foreign Investment Agency (FIA) Do Nhat Hoang.

Hanoi – Foreign-invested enterprises in Vietnam are recovering well and focusing on production and business expansion, with disbursement reaching a record high in the first eight months of 2022, according to director of the Ministry of Planning and Investment’s Foreign Investment Agency (FIA) Do Nhat Hoang.

FIA statistics showed that during January-August, FDI disbursement hit 12.8 billion USD, up 10.5% year-on-year.

FDI disbursement in eight months posts record high

Illustrative image (Photo: VNA)

Vietnam's resumption of economic activities has helped foreign investors speed up the implementation of their projects. Recently, Nghi Son 2 BOT Thermal Power Plant, with a total investment of nearly 2.8 billion USD, was officially put into commercial operation, providing an additional 7.8 billion kWh per year to the national grid, contributing to meeting the energy need for production and business.

In addition, Samsung's Research and Development Centre project in Hanoi is expected to be completed by the end of this year. Its capital addition, worth more than 2 billion USD in Thai Nguyen province and Ho Chi Minh City, will also be disbursed soon.

According to economists, disbursement is an important factor, as it can really create motivation for the economy.

To attract more FDI, they advised Vietnam to focus on perfecting investment institutions, and researching and promulgating policies suitable to each industry and field.

Localities should publicise a list of industrial parks which have land available and infrastructure ready to lure more investors.

FDI disbursement in the first quarter highest over the last five years

Foreign direct investment (FDI) disbursement in the first quarter of this year is estimated at $4.42 billion, up 7.8 per cent on-year, representing the highest figure over the last five years.

Institutional improvements to set stage for disbursement

Disbursement of public investment since early this year remains slow. Minister of Planning and Investment Nguyen Chi Dung explained to VIR’s Nguyen Huong the reasons behind this situation, and proposed solutions to speed up progress.

By VNA

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