FDI attraction reaches over US$47b in Jan-Aug
04-SEP-2008 Intellasia | Tien Phong
Sep 4, 2008 - 7:00:00 AM
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Vietnam's total newly licensed FDI capital and increased FDI size during the first eight months of this year reached US$47.15 billion dong, a 4.5 fold increase year-on-year thanks to Vietnam's business environment has been improved and its legislation framework of investment is getting more suitable to international and regional norms, reported the head of Ministry of Planning and Investment's Foreign Investment Department, Phan Huu Thang.
According to the department, in August alone, the country had attracted 118 licensed FDI projects with total registered capital of US$1.827 billion, bringing total new FDI projects of Jan-August to 772 worth US$46.3 billion, a five fold rise in value as compared with the same period of last year.
Regarding investment field, in the first eight months, the new FDI capital mainly was invested in services with US$23.6 billion, accounting for 50.8% of total figure, US$22.5 billion in the industry and construction sectors and the remainder in agriculture.
Taiwan still continued leading among 38 foreign investors in Vietnam with 112 projects worth US$8.6 billion, accounting for 18.6% of total registered FDI capital. Meanwhile, US stepped back to the ninth position.
In the period, 210 projects were increased in capital size with additional US$883 million. In which, Korean investors' increased capital made up 23.6% of total increased amount. Particularly, US$82.7 million was added to Huyndai Vinashin shipbuilding project.
Although Vietnam's business investment environment is facing many challenges such as highly increasing inflation, sudden changes in prices causing strong impacts on foreign investment activities, the FDI attraction still reached the recorded US$47.15 billion.
Given assessment on the huge FDI capital, investors from Japan, US and Europe confirmed that Vietnam will be still the most attraction investment destination of foreigners in the next time.
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