New foreign investment approvals seen hitting $30 billion this year

30-Nov-2021 Intellasia | Vietnamnet | 5:02 AM Print This Post

Vietnam attracted $2.72 billion in new foreign investment approvals in November, raising the total in the January-November period to $26.46 billion.

The $30 billion level is considered feasible as investors from the United States, Europe, Japan, South Korea and Singapore have expressed their confidence in Vietnam’s investment environment and post-Covid-19 economic recovery.

According to statistics from the Foreign Investment Agency under the Ministry of Planning and Investment, from January to November, foreign investors registered to invest nearly $14.1 billion in nearly 1,600 projects, up 3.76 percent in the total registered capital but plunging 31.8 percent in the number of new projects.

Meanwhile, 877 existing projects added $8 billion, down 16.6 percent in the number of projects but rising 26.7 percent in capital compared with the same period last year.

In addition, foreign investors conducted nearly 3,500 transactions to contribute funds and acquire shares in local firms with total capital of some $4.4 billion, dropping 40.4 percent and 33%, respectively, over the year-ago period.

Foreign investors injected capital into 18 sectors, with the processing and manufacturing sector attracting the most capital, at more than $14 billion, accounting for 53 percent of the registered capital. The electricity production and distribution sector came in second with over $5.7 billion.

In the 11-month period, 100 countries and territories invested in Vietnam. Singapore was the biggest investor with over $7.6 billion, making up 28.7 percent of Vietnam’s total foreign investment approvals. It was followed by South Korea with $4.36 billion and Japan with $3.7 billion.

However, only $17.1 billion of foreign investment was disbursed in the 11-month period, down 4.2 percent year-on-year.

https://vietnamnet.vn/en/business/new-foreign-investment-approvals-seen-hitting-us-30 billion-this-year-796613.html

 

Category: Economy, Vietnam

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