FDI grows 34% from last year

A factory of CJ Vina Agri Co, an affiliate of South Korean CheilJedang Group, in southern Dong Nai Province. South Korea continued to be Viet Nam’s leading investor in the first nine months of 2017. - Photo cjvina.com

Of the sum, $14.56 billion came from 1,844 new projects, up 30.4 per cent year-on-year, according to the latest report from the Ministry of Planning and Investment’s Foreign Investment Agency.

Another $6.75 billion was added to 878 existing projects, 28.3 per cent higher than the same period last year.

The remainder of the FDI, worth $4.16 billion, came from 3,742 deals made by foreign investors to contribute capital to businesses and to buy shares of Vietnamese businesses, jumping 64 per cent compared with last year’s corresponding period.

During the reviewed period, FDI disbursement also saw a positive yearly increase of 13.4 per cent to $12.5 billion, according to the data.

Exports of foreign-invested enterprises (including crude oil) are estimated at $110.8 billion, up 21 per cent over last year, accounting for 72 per cent of the country’s total export turnover. Excluding crude oil, this figure is $108.5 billion, up 21 per cent.

Manufacturing and processing industries remained the top sector, receiving $12.64 billion, comprising 49.6 per cent of the total registered FDI.

The electricity production and distribution sector ranked second with $5.34 billion, accounting for 21 per cent of the total FDI. The mining sector was in third place with $1.58 billion, totalling 6.2 per cent.

From January to September, South Korea retained its position as the leading investor in Viet Nam with $6.31 billion, and 24.7 per cent of the FDI pledged to the country. It was followed by Japan with $5.91 billion, or 23.2 per cent of the FDI, and Singapore with $4.14 billion, or 16.2 per cent.

Among 59 localities receiving FDI during the nine-month period, the southern economic hub of HCM City was at the top with $3.74 billion, accounting for 14.6 per cent of the country’s total FDI.

The central province of Thanh Hoa was the runner-up with $3.15 billion, or 12.4 per cent of the total FDI. Northern Bac Ninh Province came third with $3.14 billion, or 12.3 per cent.

In a separate report, the southern province of Dong Nai said it had nearly achieved its FDI target set for the whole year.

The province, which is listed among the country’s top 10 leading localities in terms of attracting FDI, granted licences to 55 new foreign-invested projects and permitted 84 existing projects to add capital in the first nine months of this year with a total amount of $955.5 million, equivalent to 95.5 per cent of the annual target.

According to the provincial Department of Planning and Investment, $339.4 million was poured into new projects and the remaining was added to operational projects. The province is currently home to 1,300 valid foreign-invested projects worth $26.27 billion by investors from 45 countries and territories. The leading investors are South Korea, Taiwan and Japan.