First Five Months 2007: Vietnam Attracts US$3.7 Billion FDI

Vietnam granted investment licenses to 74 projects with total registered capital of US $827 million in May, raising total licensed projects in the first five months of 2007 to 372 projects with registered capital of US $3.7 billion, increasing 32.4 per cent in project number and 25 per cent in registered capital from the same period of last year, according to the Department of Foreign Investment.

 

Registered investment in this period is primarily in industry with 55 per cent, service with 42.7 per cent and the remaining percentage for agriculture, forestry and fishery. 

 

The Department of Foreign Investment said that in May 2007, 26 projects raised registered investment, together worth US $111 million. In the first five months this year, 141 projects have been supplemented, with registered investment growing by US $577 million, 89.4 per cent of supplemented investment compared to the same period last year. Some noticeable projects granted investment licenses include the Indian Steel Production Mill in Ba Ria-Vung Tau with investment of US $527.2 million; the project building a luxury resort at Chan May economic zone in Thua Thien-Hue with US $276 million; Draf Vina paper factory of Thailand in Binh Duong with investment of US $220 million; the project building Cai Mep port in Ba Ria-Vung Tau with investment capital of US $165 million, of Singapore; Tay Ninh sugar joint stock company with US $113 million, of India; and Vinh Hoi resort in Binh Dinh with investment of US $110 million, of the United States.

 

Singapore tops the list of 34 investors in Vietnam in the first five months of 2007, with total registered capital of US $776.635 million, accounting for 20.4 per cent; followed by the Republic of Korea with US $733.8 million, or 19.3 per cent. India ranks third with US $527.2 million, 13.9 per cent, thanks to its steel project in Ba Ria-Vung Tau.