Foreign investment expansion up 41.4 per cent in January

January 29, 2021 | 12:23
(0) user say
Total investment to expand capital at existing projects in January rose by 41.4 per cent on-year, while total investment increased by 51.7 per cent, excluding the $4 billion LNG project in Bac Lieu province registered in last January.
foreign investment expansion up 414 per cent in january
Many existing projects expanded capital in the first month of the year

As of January 20, 2021, total newly-registered and added capital, as well as investment going into capital contribution and share purchases reached $2.02 billion, equaling 37.8 per cent of last year's figure, according to the Ministry of Planning and Investment's Foreign Investment Agency. However, if the $4 billion LNG project in Bac Lieu province was excluded, total investment this month would be 51.7 per cent higher than last year.

There were 47 newly-registered projects (down 81.8 per cent on-year), with a total investment of over $1.3 billion (down 70.3 per cent on-year), including the project of Singapore’s Vietnam Kodi New Material Co., Ltd. valued at $270 million (in Bac Giang); China’s $210 million JA Solar PV Vietnam (in Bac Giang); Hong Kong’s $200 million Everwin Precision Vietnam (in Nghe An); and the US' $110 million United States Enterprises in Danang city.

Besides these, 46 projects (down 40.3 per cent on-year) expanded capital with a total value of $472.2 million (up 41.4 per cent). The most notable capital expansion was made by China’s radian tyre manufacturing project (Tay Ninh province) which has added $312 million.

Additionally, there were 194 capital contributions and share purchases (down 78.1 per cent) with a total investment of $220.8 million (down 58.7 per cent).

Disbursement of foreign capital reached $1.51 billion this month, rising 4.1 per cent on-year.

The export turnover of foreign-invested enterprises also increased impressively. These actors exported $19.6 billion (including crude oil) worth of goods and services, a 52.3 per cent increase on-year and making up 72.7 per cent of the country's export turnover. Excluding crude oil, this export turnover was $19.5 billion, up 53.7 per cent, capturing 72.2 per cent of the country's total export turnover.

Meanwhile, their import turnover was $17.3 billion, rising 46.9 per cent on-year. Thus, in January, the trade surplus of foreign-invested enterprises was $2.3 billion (including crude oil) or $2.2 billion (excluding crude oil).

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional