Vietnam FDI Reaches US$60 Billion

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Nov. 26 – Vietnam's foreign direct investment (FDI) projects for the year has amounted to more than US$60 billion. In November alone, close to US$1 billion worth of investments were streamed through FDI projects.

The Foreign Investment Agency (FIA) of the Ministry of Planning and Investment, said that in November, 106 new FDI projects received funding, increasing the total amount of newly-registered FDI capital to US$59 billion. The figure is a seven-fold increase compared to the same period last year.

For November, Vietnam only allowed 25 existing projects to add US$272 million in funds.

So far, FDI disbursement has reached US$10 billion including US$950 million for November alone.Foreign-invested businesses reported growth of 26.3 percent in revenue while earning US$22.2 billion from exports, up 24.9 percent, and importing US$26.2 billion worth of commodities, an increase of 34.2 percent.

FIA director Phan Huu Thang told the Vietnam News Agency that for this year the country is expected to attract up to US$65 billion in FDI while FDI disbursement is forecast to cap at US$11 billion USD, up 37 percent.

According to the Vietnam News Agency, FDI disbursement next year should reach US$12-13 billion.