Vietnam Reports over US$59Bln So far

Vietnam now has 6,764 valid foreign direct investment (FDI) projects worth a total registered capital of US$59.06 billion, the Foreign Investment Agency under the Ministry of Planning and Investment (MPI) has reported.

 

Out of the figure, the implemented capital stands at over US$28.6 billion.

 

The industrial sector takes the lead in terms of FDI attraction, accounting for 67.5 per cent in the number of project and 63.06 per cent in capital. It is followed by service sector with 20.1 per cent and 30.3 per cent respectively and the agro-forestry-fisheries industry.

 

Among 76 countries and territories investing in the country, Asian firms make up 67 per cent of the combined registered capital. European investors post the second position with 29 per cent and the US with 4 per cent. Five biggest investors are Taiwan, Singapore, South Korea, Japan and Hong Kong, holding 66.8 per cent of the total.

 

Ho Chi Minh City, the biggest economic hub of Vietnam, lures the most foreign companies with 30.4 per cent of the number of projects and 23.9 per cent in capital. The runners-up are Hanoi (11.09 per cent) and (17.3 per cent), Dong Nai (11.54 per cent) and (15.3 per cent), Binh Duong (18.5 per cent) and (10.1 per cent) and Ba Ria-Vung Tau.

 

As many as 76.4 per cent of FDI projects in Vietnam follow the wholly foreign-owned model, 20.8 per cent are in the form of joint-ventures and the rest are business contracts and joint-stocks.

 

Vietnam has attracted $8.27 billion since the beginning of the year, representing an on-year growth of over 47.4 per cent and surpassing the year’s 31.7 per cent target.

 

FDI into the country is forecast to climb to $9.2 billion in 2007, including $7 billion from newly-licensed projects and the remainder from the capital rise. Disbursed capital next year is likely to be around $4.5 billion. The FDI sector is hoping to generate jobs for 300,000 laborers.