Member economies of the Asia-Pacific Economic Cooperation (APEC) have so far poured $41.7 billion into 5,681 projects in Vietnam, making up more than 73 per cent of total foreign direct investment (FDI) licensed in the Southeast Asian developing country, the Ministry of Planning and Investment (MPI) has reported.
Of the figure, the implemented capital has reached around $20 billion, equal to 66.2 per cent of the country’s total figure.
Among 16 APEC investors, Taiwan takes the leads with 1,542 projects worth $8.04 billion, representing 27 per cent in the number of projects and 19.3 per cent in investment capital.
The runners-up are Singapore with $8.03 billion for 447 projects and Japan with $7.1 billion for 723 projects.
However, Japan tops in terms of disbursed capital with over $4.7 billion. The world's second largest economy has recently signed a joint initiative of cooperation with Vietnam to facilitate the competitive edge of the Vietnamese investment environment.
It also aims to be the biggest investor in Vietnam, which is indicated by a fact that the Southeast-Asian country is welcoming a new wave from the powerful economy with huge investment of groups like Sumitomo, Cannon and Honda. The recent visit to Japan by Prime Minister Nguyen Tan Dung is also expected to pay the way for a better economic relationship between the two sides.
Meanwhile, the US is seen a tough rival of Japan as its FDI into Vietnam has reached some $2 billion. The total capital would touch $3 billion if its investment through a third country is included. The US is expected to be the most promising investor in Vietnam in the years to come.
South Korean, ranking the forth with $5.9 billion, is listed as one of APEC economies with the most successful projects in Vietnam.
China stands the 15th out of APEC countries investing in Vietnam with over $825 million, mainly operating in industrial production and construction with $286 projects worth over $527 million.
APEC investment penetrates into all fields of Vietnam’s economy, but mostly focuses on industrial production and construction with $25.7 billion, followed by services and ago-forestry sectors with $13.2 billion and $2.7 billion respectively.
Ho Chi Minh City leads in attracting investment from APEC economies with a combined capital of $9.8 billion for 1,700 valid projects. Hanoi comes second with $7.8 billion for 565 projects. It is followed by the southern provinces of Dong Nai, Binh Duong.
APEC projects like the US-based Intel Group capitalized at $605 million and many others have helped make great contributions to the development of new industries and new products with advanced sciences and technologies in Vietnam, a developing economy trying to become industrialized by 2010.
In the coming time, Vietnam plans to boost investment promotion activities with the four remaining APEC countries left unnamed in Vietnam’s FDI list namely Papua New Guinea, Mexico, Chile and Peru, said Head of the Overseas Investment Department Phan Huu Thang.
In the first ten months of this year, Vietnam attracted a total FDI capital of $6.48 billion has made a great stride in foreign direct investment (FDI) attraction with a total of $6.48 FDI, fulfilling up to 99.7 per cent the whole year’s target of $6.5 billion, Thang said, adding that the country’s FDI attraction will be surely much more exciting after APEC events and especially the country’s WTO entry.
VNA, Vietnamnet
Vietnamese
