Vietnam Attracts US$12.63 Billion FDI In Eight Months

Vietnam's foreign investment capital over the past eight months totalled US$12.63 billion, an increase of 19.5% on 2012.

The Foreign Investment Agency (FIA) reports that as of August 20, almost 770 new projects were licensed representing registered capital of over US$7.4 billion, a year-on-year increase of 12.2%. As many as 296 projects contributed an additional US$5.22 billion in capital, 31.7% higher than the previous period.

FIA says foreign investment was funneled into 18 industries, of which processing and manufacturing took the lead with 370 newly registered projects worth US$10.817 billion, accounting for 85% of total foreign investment capital. The real estate sector ranked second with its more than US$588 million representing 4.7% of total foreign investment capital.

Japan is the largest of Vietnam’s 47 foreign investors with US$4.35 billion (34.5% of the total), followed by Singapore (US$3.78 billion, 29.9%) and Russia (US$1 billion, 8,1%). Foreign businesses have invested in 50 cities and provinces across the country, not including offshore oil projects. With an additional US$2.8 billion in investment for the Nghi Son oil refinery, the central province of Thanh Hoa received the largest proportion of Vietnam’s total foreign investment capital (23.3% or US$2.815 billion). Thai Nguyen province claimed the second largest (US$2.185 billion), while third went to Bac Ninh province (US$1.39 billion).

Foreign Direct Investment (FDI) projects have disbursed US$7.560 billion over the past eight months, up 3.8% on 2012. The FDI sector’s export earnings surged 21.7% on last year’s levels to beyond US$7.560 billion, 66.1% of Vietnam’s total export revenue. [Source: VOV Online]