Foreign direct investment (FDI) disbursement in Vietnam is estimated to reach US$1.43 billion in the first four months this year, representing an annual rise of 24.3 per cent, a government official said.
In April alone, US$375 million FDI was disbursed, the Ministry of Planning and Investment official said, giving no comparative figures.
The country attracted $1.01 billion FDI in April, $894 million from 102 fresh projects and the rest from capital expansion of 25 existing projects, raising total FDI in the four month period to more than $3.5 billion.
The Republic of Korea tops the list of foreign investors in Vietnam during the phase, with 84 projects worth nearly $600 million. Next are India, Singapore, Thailand, and the US.
Between January and April, foreign-owned firms reported total exports - excluding crude oil - of $5.74 billion, up 35.2 per cent on year, while their import value rose 28.7 per cent to $6.09 billion.
Vietnam will receive a range of mammoth FDI projects this year after recent consecutive visits of foreign groups for market exploration, the official emphasized.
Foxconn of Taiwan revealed it will invest a total $5 billion into hi-tech electronics projects in the northern provinces of Bac Ninh and Bac Giang.
Besides, many foreign investors are seeking business opportunities in the country. Thirty five senior managers of 18 leading groups from the US, with big names like Abbott International, Boeing, Conoco Phillips, Exxon Mobil, Ford Motor, General Electric, Hewlett-Packard and IBM, have arrived in Hanoi take part in the “Vietnam - a bright future for US businesses” forum, aiming for more trade and investment cooperation.
Given this momentum, Vietnam’s 2007 FDI picture is very bright with the expected attraction of $16 billion. (Down Jones Newswires, Thanhniennews)
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