FDI Disbursement Reaches More than US$8 Billion
Sept. 27 – Foreign investment disbursement from January to September reached more than US$8 billion, a rise of 4.8 percent compared to the same period last year says the Foreign Investment Agency.
The first nine months of the year saw Vietnam successfully attract US$12.19 billion worth of foreign direct investment and license 720 new projects amounting to US$11.4 billion. Authorities are working towards an FDI goal of US$22 billion to US$25 billion by the year’s end.
FDI disbursement was slower in September at US$800 million, an estimated US$50 million lower compared to August figures. Companies seemed to have drastically cut down on bringing in additional funding to existing projects with only 153 projects reporting on increasing their capital by US$783 million, an almost 86 percent fall compared to last year.
Vietnam’s highest source of FDI came from the Netherlands at US$2.2 billion, with South Korea trailing behind with US$2 billion and the United States with US$1.87 billion. A majority of the investments went to the processing and manufacturing industries, accounting for 30.2 percent of registered FDI.
Foreign investors found Ba Ria-Vung Tau Province in southern Vietnam the most attractive destination in the country with US$2.23 billion FDI flowing into the area. This was followed by Quang Ninh Province in the north at US$2.15 billion and Ho Chi Minh City with more than US$1.8 billion.
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