FDI disbursement in Vietnam rises 2% to US$2.5 billion in Jan-Feb
Japan regained the position of largest investor in Vietnam for the first two months of 2021 with US$1.64 billion, or 30% of the total registered FDI.
Disbursement of foreign direct investment (FDI) capital in Vietnam reached US$2.5 billion in the first two months of this year, representing an increase of 2% year-on-year, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.
|Electronics production at Quang Minh Industrial Park in Me Linh district, Hanoi. Photo: Pham Hung.|
Meanwhile, FDI commitments during the January – February period fell 15.6% year-on-year to US$5.46 billion as the Covid-19 pandemic continues to exert its impacts on global economy, noted the FIA.
Year to February 20, 126 new projects have been approved with total registered capital of US$3.31 billion, down 74.8% in the number of projects and 33.9% in capital year-on-year, while 115 existing projects have been injected an additional US$1.61 billion, falling 23.8% in number but rising by 2.5-fold in capital.
During this period, 445 projects had nearly US$543.1 million in capital contributed by foreign investors, down 71.9% in number of projects and 34.4% in value year-on-year.
Investors have poured money into 17 fields and sectors, in which manufacturing and processing led the pack with investment capital of over US$3 billion, accounting for 55.7% of total registered capital. Electricity production and distribution came second with US$1.44 billion, or 26.5%, followed by real estate and R&D with respective figures of US$485 million and US$153 million.
The report added that out of 46 countries and territories having projects in Vietnam in the first two months of the year, Japan took the lead with US$1.64 billion, or 30% of the total registered FDI, followed by Singapore with US$1.07 billion, or 19.6% and South Korea with US$1.05 billion, or 19.3%.
Among 43 cities and provinces having received FDI in the two-month period, Can Tho has attracted the largest portion of capital commitments with US$1.31 billion, or 24.1% of the total. Hai Phong came second with nearly US$918 million (16.8%) followed by Bac Giang with US$573 million (10.5%).
Big-ticket projects in the January-February include an additional injection of US$312 million into a tire manufacturing plant in Tay Ninh province; Kodi New Material Vietnam manufacturing plan from Singaporean investor worth US$270 million to make tablets and laptops in Bac Giang province; the manufacturing project of photovoltaic products Ja Solar PV Vietnam from Ja Solar Investment (Hong Kong) with investment capital of US$210 million at Bac Giang; hi-tech project Everwin (Hong Kong) worth US$200 million to produce plastic products at Nghe An; a semi-conductor manufacturing plant of United States Enterprises (US) with US$100 million in Danang.
- Laos vows to facilitate Vietnam's investors
- Hanoi lures nearly $1.7 billion in foreign investment in 2022
- European Investment Bank will provide Vietnam climate finance
- Vietnam stands as credible partner for foreign investors
- Vietnamese Gov’t to divest state capital at 141 businesses until 2025
- IFC assists Vietnam to boost green finance for a low-carbon economy
- Vietnam's FDI outlays in 10 months jump 15% to exceed $17 billion
- Actual FDI to Vietnam rises over 16% to US$15.4 billion in 9-month
- Construction of road connecting Northwest region kicked off
- Vietnam may face increased pressure on inflation control: Experts
Vietnam spends US$9 billion on oil imports in 2022
Hanoi makes people and businesses the center of digitalization
Tet in the eyes of foreigners in Hanoi
Hanoians show passion for flowers
Vietnam’s tourism forecast to strongly rebound in five years
Admiring 2,023 feline statuettes made by Hanoi artist
Overseas Vietnamese eagerly await Tet and spring
Switzerland to support Vietnam’s transition to green economy
Foreign ambassadors experience Vietnamese Tet in Duong Lam Village