Holland Overtakes the United States as Top Foreign Investor
May 10 – Holland has overtaken the United States as Vietnam’s largest foreign direct investor during the first four months of the year based on figures released by the Foreign Investment Agency.
During the period, Dutch companies were given licenses to invest in four projects amounting to US$2.15 billion including one project worth US$2.14 billion compared to U.S. investment worth US$1.02 billion.
The United States has been one of the top foreign investors in the country. Last year, U.S. businesses became the largest group to invest in Vietnam amounting to US$9.8 billion.
It was during this time that U.S. capital comprised of 45.6 percent of the country’s total foreign investment said the Foreign Investment Department of the Ministry of Planning and Investment. U.S. investment into the country seems to have slowed this year with funds worth US$980 million during the first quarter behind Japanese investment worth US$1.09 billion.
In comparison, Dutch investment in Vietnam was the highest among European Union investors reaching almost US$2 billion in 2009 with a positive disbursement rate estimated at more than 80 percent.
Foreign direct investment worth US$5.9 billion entered Vietnam from January to April, a decrease of 25.7 percent compared to the previous year. During the period, Quang Ninh Province located in the northeast coast registered the highest rate of foreign investment at more than US$2.1 billion.