FDI’s game of snakes and ladders
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Net foreign direct investment (FDI) flowing in Vietnam in November reached $9.95 billion, up 9.9 per cent against the same period last year, according the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).
The disbursed capital increases as industrial production of foreign invested companies is rising. Over the past 11 months, export turnover of foreign-invested companies reached $34.8 billion, increasing 27 per cent year-on-year.
But while the disbursement capital is increasingly flowing to Vietnam, committed capital is declining. The FIA reported that foreign investors committed new investments and expansion capital at 1,043 projects worth $13.3 billion, down 40 per cent in comparison with the same period last year.
The FIA’s report shows that Vietnam is close to its target of $11 billion of net FDI this year, but it will hardly attract $22-$25 billion of pledged capital as targeted.
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