Public investment hits five-year high

Illustrative image (Photo: VNA)

Hanoi – Public investment in August and the first eight months of this year increased 45.4 percent and 30.4 present year-on-year, respectively, according to the General Statistics Office (GSO).

The investment hit five-year high, reaching 47.4 trillion VND (2.0 billion USD) in August and 250.5 trillion VND between January and August.

In the eight months, the amount of capital under the management of the central government was 41.2 trillion VND, equivalent to 48.7 percent of the yearly target and up 65.1 percent against the same period last year; and the volume of capital under the management of local administrations was 209.3 trillion VND, equivalent to 51.1 percent of the yearly target and a year-on-year rise of 25.2 percent.

Vietnam attracted 19.54 billion USD worth of FDI as of August 20, down 13.7 percent year-on-year, according to the Ministry of Planning and Investment.

There were 1,797 new FDI projects licensed, with registered capital totalling 9.73 billion USD, down 25.3 percent in project numbers but up 6.6 percent in value compared to the same period last year. The increase was attributed to the inclusion of the Bac Lieu LNG-to-power project, with investment capital of 4 billion USD, or 41.1 percent of the total.

Meanwhile, 718 existing projects were permitted to raise their investment by more than 4.87 billion USD in total, a 22.2 percent increase year-on-year.

Foreign investors also outlaid 4.93 billion USD on share purchases or capital contributions during the period, down 48.2 percent.

During the eight-month period, Vietnam invested a total of 330 million USD abroad, up 15. 8 percent year-on-year, the ministry reported.

Of that number, 218.4 million USD was poured into 86 new projects and the remaining 111.8 million USD pledged to 25 existing projects.