Hanoichampion nationwide in FDI attraction

31-Dec-2019 Intellasia | HanoiTimes | 6:02 AM Print This Post

The majority of investment capital in Hanoi is under the form of capital contribution and share acquisition with $6.47 billion.

Among 62 cities and provinces having received foreign direct investment (FDI) in 2019, Hanoi has attracted the largest share of capital commitments with $8.45 billion, accounting for 22.2 percent of total investment in the period, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.

The majority of investment capital in Hanoi is under the form of capital contribution and share acquisition with $6.47 billion, or 76.6 percent of the total commitments. Beerco Limited (Hong Kong) poured $3.85 billion into Vietnam Beverage for a beer project in Hanoi.

HCM City came second with $8.3 billion or 21.8 percent of the total investment, followed by Binh Duong, Dong Nai, Bac Ninh.

In 2019, actual FDI in Vietnam totalled $20.38 billion, the highest ever, representing an increase of 6.7 percent year-on-year. Meanwhile, FDI commitments this year totalled $38.02 billion, up 7.2 percent year-on-year.

Year to December 20, 3,883 new projects have been approved with total commitments of $16.75 billion, up 27.5 percent in number of projects and down 6.8 percent in capital year-on-year, while 1,381 existing projects have been injected an additional $5.8 billion, up 18.1 percent in projects and down 23.6 percent in capital.

During this period, 9,842 projects have had $15.47 billion in capital contributed by foreign investors, up 56.4 percent year-on-year and accounting for 40.7 percent of total registered capital.

Investors have poured money into 19 fields and sectors, in which manufacturing and processing continued to attract substantial attention with investment capital of $24.56 billion, or 64.6 percent of the total registered capital, followed by real estate with $3.88 billion or 10.2 percent of the total, and retail and wholesale, science and technology.

The data shows that out of 125 countries and territories investing in Vietnam in 2019, the Republic of Korea took the lead with $7.92 billion, or 20.8 percent of the total investment capital. Hong Kong (China) came second with $7.87 billion while the third place belonged to Singapore with $4.5 billion, or 11.8%.

Notably, investment capital from Hong Kong (China) and mainland China to Vietnam has been on an uptrend, mainly thanks to the impact from US China trade war. FDI from China increased by 1.65-fold and from Hong Kong 2.4-fold year-on-year.

Other big-ticket projects in 2019 include $650 million in investment capital of Techtronic Tools (Hong Kong) for the construction of manufacturing plant and R&D centre for smart electronic devices in HCM City; $420 million racetrack complex from a South Korean investor in Hanoi; an injection of an additional $410 million into LG Display Hai Phong; tire manufacturing plant worth $280 million from a Chinese investor in Tay Ninh province and a similar project worth $214.4 million financed by Guizhou Advance Type Investment (China) in Tien Giang province; and a solar power project worth $216.7 million from Thailand’s investors in Phu Yen province.



Category: Economy, Vietnam

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