The project is a joint venture between Japan investment capital and Vietnamese PVN and PVGAS to be executed in Kien Giang province. It is the the second billion dollar project licensed in Vietnam so far this year after the Samsung Display project.
According to the General Statistics Office, as of April, 734 new FDI projects have been licensed with registered capital of $88 billion, up by 5.3% in number of projects and down 4% in registered capital year-on-year.
In the first four months of 2017, the manufacturing and processing sector receives the largest amount of foreign direct investment (FDI) with registered capital of over $2.5 billion, accounting for 52.9% of the total newly registered capital; The mining sector attracted over $ 1.27 billion, making up 26.2% of the registered capital. The remaining sectors drew more than 1.02 billion dollars, representing 20.9% of the total capital
Including the additional capital of the already licensed projects and capital contribution, the total foreign investment capital in the manufacturing and processing industry reached $7.3 billion in the first four months of 2017, accounting for 69.5% of the total registered capital; the remaining sectors attained more than 1.9 billion dollars, accounting for 18.4%.
As of newly registered capital, Japan is currentlly Vietnam’s largest investor with $ 1.5 billion dollars, accounting for 31.2% of the total newly-registered capital; the second one is Korean investor with more than $1 billion, accounting for 22.4%; China comes in third place with 735.2 million, accounting for 15.1%.
