FDI inflow shrinks in eight months

Thien Thanh Sanitaryware joint company



FDI inflow shrinks in eight months

More than 10.23 billion USD of foreign direct investment (FDI) flowed into Vietnam over the first eight months of 2014, falling by 19 percent against last year’s same period, said the General Statistics Office.

By August 20, the number of newly licensed FDI projects stood at 992, up 29 percent from a year ago, with registered capital of some 7.25 billion USD, down 2.1 percent.

Meanwhile, nearly 2.3 billion USD was added to 349 existing projects.

Processing and manufacturing industries remained FDI magnets which attracted 68.4 percent of the total registered capital, or 7 billion USD.

They were followed by real estates (1.15 billion USD) and construction (552.9 million USD).

Over the period, 45 out of the country’s 63 provinces and cities attracted new FDI projects. Northern Bac Ninh province took the lead with 1.26 billion USD registered while Ho Chi Minh City ranked second (993 million USD).

The third and fourth places belonged to northern Quang Ninh province (576.2 million USD) and Hai Phong city (509.4 million USD).

Among 49 countries and territories investing in Vietnam during the time, the Republic of Korea was the largest investor, pouring 2.467 billion USD in its projects, followed by Hong Kong ( China ) with over 1 billion USD and Japan with 769.9 million USD.

In the meantime, disbursed FDI was estimated at 7.9 billion USD, representing a year-on-year increase of 4.5 percent.

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