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ECONOMY

Foreign investors commit US$8.3 billion into Vietnam's IPs, EZs in 2018

Updated at Monday, 14 Jan 2019, 16:36
The Hanoitimes - As much as US$5.3 billion in terms of newly-registered capital poured in 560 foreign projects and additional capital of over US$3 billion in 500 other projects, local media reported.
Vietnam's industrial complexes and economic zones attracted US$8.3 billion in foreign capital in 2018, accounting for 23.41% of the total foreign direct investment (FDI) commitments in the period, according to the Ministry of Planning and Investment (MPI).
 
Illustrative photo.
Illustrative photo.
Upon breaking down, as much as US$5.3 billion in terms of newly-registered capital poured in 560 foreign projects and additional capital of over US$3 billion in 500 other projects, stated a report from the Department for Economic Zone Management (DEZM) under the MPI.

The number added up to a total of US$145 billion in 8,000 foreign projects as of the end of last year.

Meanwhile, industrial complexes and economic zones also attracted 7,500 domestic projects with registered capital of VND970 trillion (US$41.62 billion). 

During this period, some notable projects with large investment capital in industrial parks and economic zones included the US$1.2-billion polypropylene manufacturing plant by South Korea's Hyosung Corporation at Cai Mep Industrial Zone in Ba Ria - Vung Tau; the Laguna project with additional fund of US$1.12 billion from Singaporean investors; the US$80-million Nam Dinh Ramatex Textile and Garment Factory, and the US$80-million Ha Nam YKK Factory specialized in producing zippers and other materials for the garment industry. 

According to the report, Vietnam currently has 326 industrial parks covering a total area of nearly 93,000 hectares as of the end of 2018. Among them, 250 are operational, together with other 76 in the process of site clearance and basic construction. The occupancy rate reached 73% at the operating industrial parks.

The MPI also informed that Vietnam has 17 coastal economic zones established on a land and water surface area of approximately 845,000 hectares by the end of last year.
Hai Yen
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