Vietnam Licenses 177 FDI Projects in Jan-Apr

Vietnam Licenses 177 FDI Projects in Jan-Apr

Vietnam licensed 177 new foreign direct investment (FDI) projects with total registered investment of US$1.45 billion in the period between January 1 and April 22, 2005, according to government sources.

Of the total newly licensed FDI capital, 46.3 per cent is to be invested in transport and communication, 22.8 per cent in light industries, 13.77 per cent in heavy industries and 12.2 per cent in building offices, according to a report recently released by the General Statistics Office.

Among the cities and provinces nationwide, Hanoi takes the lead in terms of FDI attraction in the period with 20 projects worth US$841 million, followed by Dong Nai province with 21 projects worth US$261.5 million, Ho Chi Minh City with 57 projects worth US$104.7 million and Binh Duong province with 32 projects worth US$66.85 million.

Luxembourg was the largest foreign investor in Vietnam in the period with total investment capital of US$770.5 million, followed by Hong Kong with US$248.9 million, Japan with US$119.4 million, Taiwan with US$78.58 million and South Korea with US$74.79 million.

The FDI sector in Vietnam is expected to secure total industrial production of VND51.47 trillion (US$3.28 billion) in the first four months of this year, up 13.1 per cent against the year-earlier period and accounting for 37.15 per cent of the country’s total.

FDI enterprises in the country are likely to rake in total export revenues of US$5.46 billion in the January-April period, up 32 per cent year on year. They are also estimated to spend US$4.04 billion on imports in the same period, up 23.3 per cent.

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