US$3.2Bln in FDI Attracted in Seven Months

Four hundred and nineteen projects with a registered capital of US$2.1 billion were licensed in the first seven months of 2005, or an increase of 23 per cent against that the same period last year, said that Ministry of Planning and Investment. This has brought total of foreign direct investment (FDI) capital attracted in seven months to US$3.2 billion.

The disbursement of FDI capital gained a good result. In July, US$300 million was realised, bringing total realised capital to US$1.837 billion in seven months, up by 11.3 per cent over one year earlier. According to the Department of Foreign Investment, this has proven that foreign investors have had an optimistic recognition of the Vietnamese investment environment.

Also in July, 64 projects were allowed to increase their capital with a total added capital of US$256 million. In the first seven months, 227 projects were licensed to add their capital, up by 40.6 per cent against that of the same period last year.

The Department of Foreign Investment said that the FDI sector continued to gain a high growth rate in their production and business activities. In seven months, the sector’s export value saw an increase of 26.5 per cent. The FDI sector’s export value (including crude oil) accounts for over 50 per cent of the whole country’s export turnover. FDI enterprises’ export turnover is equal to 34 per cent of the whole’s country’s export value.

• P.V