Vietnam continues to ensnare FDI

August 28, 2013 | 15:18

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Foreign direct investment (FDI) commitments in Vietnam rose 19.5 per cent in the first eight months of this year reaching $12.63 billion, suggesting that international confidence in the country remained high.

Samsung Vietnam

The Ministry of Planning and Investment’s Foreign Investment Agency (FIA) reported that 769 new FDI projects had been licenced between January and August 20, capitalised at over $7.4 billion and up 12.2 per cent against the same period last year.

Foreign investors also registered $5.22 billion of increased capital into 297 on-going projects, up 31.7 per cent. Japan is still the country’s biggest investor, followed by Singapore and Russia.

As of August 20, FDI disbursement reached $7.56 billion, an increase of 3.8 per cent compared to last year, reported FIA.

Industrial manufacturing and processing was the most attractive sector to foreign investors with 85.7 per cent, or $10.82 billion, of committed FDI. This was followed by the real estate sector which accounted for 4.7 per cent.

In the first eight months, foreign companies’ export value hit $51.24 billion, an increase of 26 per cent year-on-year, which amounted to 60.42 per cent of the country’s total exports and reasserting Vietnam’s position as a highly attractive destination for export companies.

By By Nhu Ngoc

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