Public investment hits five-year high

02-Sep-2020 Intellasia | VNA | 6:02 AM Print This Post

Public investment in August and the first eight months of this year increased 45.4 percent and 30.4 percent year-on-year, respectively, according to the General Statistical Office (GSO).

The investment hit five-year high, reaching VND47.4 trillion (US$2 billion) in August and VND250.5 trillion between January and August.

In the eight months, the amount of capital under the management of the central government was VND41.2 trillion, equivalent to 48.7 percent of the yearly target and up 65.1 percent against the same period last year; and the volume of capital under the management of local administrations was VND209.3 trillion, equivalent to 51.1 percent of the yearly target and a year-on-year rise of 25.2%.

Vietnam attracted $19.54 billion worth of FDI as of August 20, down 13.7 percent year-on-year, according to the Ministry of Planning and Investment.

There were 1,797 new FDI projects licensed, with registered capital totalling $9.73 billion, down 25.3 percent in project numbers but up 6.6 percent in value compared to the same period last year. The increase was attributed to the inclusion of the Bac Lieu LNG-to-power project, with investment capital of $4 billion, or 41.1 percent of the total.

Meanwhile, 718 existing projects were allowed to raise their investment by more than $4.87 billion in total, a 22.2 percent increase year-on-year.

Foreign investors also outlaid $4.93 billion on share purchases or capital contributions during the period, down 48.2%.

During the eight-month period, Vietnam invested a total of $330 million abroad, up 15.8 percent year-on-year, the ministry reported.

Of that number, $218.4 million was poured into 86 new projects and the remaining $111.8 million pledged to 25 existing projects.


Category: Economy, Vietnam

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