Actual FDI in Vietnam falls 5% to US$2.45 billion in Jan-Feb
The Hanoitimes - FDI commitments in the January – February period totaled US$6.47 billion, down 23.6% year-on-year.
Disbursements of foreign direct investment (FDI) projects in Vietnam totaled US$2.45 billion in the first two months of 2020, representing a decline of 5% year-on-year, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.
|Data: FIA. Chart: Ngoc Thuy.|
Meanwhile, FDI commitments in the January – February period totaled US$6.47 billion, down 23.6% year-on-year.
Year to February 20, five hundred new projects have been approved with total commitments of US$5 billion, a two-fold increase in capital year-on-year, while 151 existing projects have been injected an additional US$638.1 million, down 25.4% in capital.
A surge in newly registered FDI in the two-month period was thanks to the liquefied natural gas (LNG) plant project worth US$4 billion in the southern province of Bac Lieu.
During this period, 1,583 projects have had US$827.3 million in capital contributed by foreign investors, up 52.4% in the number of projects and down 84% in value year-on-year.
|Data: FIA. Chart: Ngoc Thuy.|
Investors have poured money into 18 fields and sectors, in which electricity production and supply led the pack with investment capital of US$3.89 billion, accounting for 60.2% of total registered capital. Manufacturing and processing came second with US$1.76 billion, or 27.3% of the total, followed by wholesale and retail with US$195 million, science and technologies with US$180 million.
The data shows that out of 73 countries and territories investing in Vietnam in the January – February period, Singapore took the lead with US$4.12 billion, China came second with US$720.4 million, while the third place belonged to South Korea with US$425.4 million.
Among 48 cities and provinces having received FDI in the two-month period, Bac Lieu has attracted the largest portion of capital commitments with US$4 billion. Tay Ninh came second with US$488.3 million, followed by Ho Chi Minh City, Hanoi, Dong Nai and Binh Duong.
Besides the US$4-billion LNG plant project financed by a Singaporean investor, some of the big-ticket projects in January – February include a tire manufacturing plant worth US$300 million from a Chinese investor in Tay Ninh province; an injection of an addition of US$138 million for a Chinese-invested radian tire production facility; an increase of US$75.2 million to Japan's Sews-components Vietnam manufacturing plant for electronic and auto parts; Hong Kong's Ce Link Vietnam 2 plant worth US$49.8 million in Bac Giang for electronic parts and products.
- M&A deals anticipated to flourish in Vietnam post-Covid-19
- 1,000 Japaneses firms looking for investment opportunities in Vietnam
- New PPP law to drive Vietnam’s infrastructure development
- New wave of investment from Japan is coming to Vietnam: Ambassador
- Different approach required for Vietnam to further integrate into global value chains
- Vietnam may lose out on FDI without sufficient infrastructure development: PM
- Australia, World Bank provide financial support to Vietnam amid Covid-19 impacts
- Techtronic Industries plans to erect largest R&D center in Vietnam
- Qualcomm establishes R&D center in Hanoi, first in SE Asia
- Vietnam parliament approves long-awaited PPP law
“Extraordinary progress of the US-Vietnam relationship is not an accident”: Ambassador Kritenbrink
Effective Covid-19 response will further boost Vietnam’s status as an attractive market: AmCham
Hanoi makes public master plan of Hoa Lac township
Covid-19 impacts on Vietnam economy not fully reflected in 6-month data: CIEM
ASEAN Summit in Hanoi expected to boost intra-regional economic links
Hanoi works closely with ADB to ensure progress of urban infrastructure projects
Vietnam Airlines retakes Jetstar Pacific from Qantas
Hanoi strives to ensure safe and stable investment environment for investors
Removal of permanent residency requirement to pressurize Hanoi's budget