FDI disbursement in Vietnam rises 2pct to $2.5 billion in Jan-Feb

27-Feb-2021 Intellasia | Hanoi Times | 5:02 AM Print This Post

Japan regained the position of largest investor in Vietnam for the first two months of 2021 with $1.64 billion, or 30 percent of the total registered FDI.

Disbursement of foreign direct investment (FDI) capital in Vietnam reached $2.5 billion in the first two months of this year, representing an increase of 2 percent year-on-year, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.

Meanwhile, FDI commitments during the January February period fell 15.6 percent year-on-year to $5.46 billion as the Covid-19 pandemic continues to exert its impacts on global economy, noted the FIA.

Year to February 20, 126 new projects have been approved with total registered capital of $3.31 billion, down 74.8 percent in the number of projects and 33.9 percent in capital year-on-year, while 115 existing projects have been injected an additional $1.61 billion, falling 23.8 percent in number but rising by 2.5-fold in capital.

During this period, 445 projects had nearly $543.1 million in capital contributed by foreign investors, down 71.9 percent in number of projects and 34.4 percent in value year-on-year.

Investors have poured money into 17 fields and sectors, in which manufacturing and processing led the pack with investment capital of over $3 billion, accounting for 55.7 percent of total registered capital. Electricity production and distribution came second with $1.44 billion, or 26.5%, followed by real estate and R&D with respective figures of $485 million and $153 million.

The report added that out of 46 countries and territories having projects in Vietnam in the first two months of the year, Japan took the lead with $1.64 billion, or 30 percent of the total registered FDI, followed by Singapore with $1.07 billion, or 19.6 percent and South Korea with $1.05 billion, or 19.3%.

Among 43 cities and provinces having received FDI in the two-month period, Can Tho has attracted the largest portion of capital commitments with $1.31 billion, or 24.1 percent of the total. Hai Phong came second with nearly $918 million (16.8%) followed by Bac Giang with $573 million (10.5%).

Big-ticket projects in the January-February include an additional injection of $312 million into a tire manufacturing plant in Tay Ninh province; Kodi New Material Vietnam manufacturing plan from Singaporean investor worth $270 million to make tablets and laptops in Bac Giang province; the manufacturing project of photovoltaic products Ja Solar PV Vietnam from Ja Solar Investment (Hong Kong) with investment capital of $210 million at Bac Giang; hi-tech project Everwin (Hong Kong) worth $200 million to produce plastic products at Nghe An; a semi-conductor manufacturing plant of United States Enterprises (US) with $100 million in Danang.

http://hanoitimes.vn/fdi-disbursement-in-vietnam-rises-2-to-us25 billion-in-jan-feb-316423.html

 

Category: Economy, Vietnam

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