Breakthrough in attracting FDI

14:02 | 02/12/2013 Economy

(VEN) - Vietnam created a breakthrough in attracting foreign direct investment (FDI) in the first 11 months of this year, contributing to affirming attractiveness of the country’s investment environment and efforts in improving its environment.

According to the Ministry of Planning and Investment, Vietnam granted new investment certificates for 125 FDI projects with a total registered capital of US$772 million this November. In addition, 53 FDI projects applied for total supplementary capital of US$878 million, bringing total newly registered capital and additional capital to US$1.65 billion in November.

In the first 11 months of this year, Vietnam attracted 1,175 new FDI projects with total registered capital of US$13.779 billion, an increase of 73.3 percent compared to the same period last year. 446 projects applied for additional capital of US$7.036 billion, an increase of 26.9 percent compared to the same period last year.

In general, in the first 11 months of this year, Vietnam attracted FDI capital of US$20.815 billion (including newly registered capital and additional capital). In particular, FDI disbursement in the first 11 months of this year totaled US$10.55 billion, an increase of five percent compared to the same period last year, achieving the target set at the beginning of the year.

Together with impressive results, attracting FDI capital in the first 11 months of this year increased by 54.2 percent compared to the same period last year and exceeded 54 percent compared to the target set by the Ministry of Planning and Investment.

FDI attraction in the first 11 months of this year sharply increased, exceeding the Ministry of Planning and Investment’s target. In particular, impressive results ended a decline in attracting FDI in the 2009-2012 period.

Together with impressive results, Vietnam remained an attractive destination for foreign investors. Although economic experts and the Ministry of Planning and Investment have repeatedly insisted on difficulties and challenges of the global economy, attracting FDI in Vietnam in 2013 has created a breakthrough.

In the first 11 months of this year, Vietnam attracted US$20.815 billion in new and supplementary FDI capital in 18 sectors. The manufacturing and processing industries caught much attention from foreign investors.

Impressive results also showed the Ministry of Planning and Investment’s efforts in improving mechanisms and policies. At a press conference held at the beginning of this year, the ministry pointed out shortcomings in FDI attraction and agreed on a series of solutions to overcome difficulties and shortcomings.

So far this year, the Ministry of Planning and Investment has improved its law system and investment policies and offered investment incentives for the period from 2011 to 2020, while improving quality and efficiency of project planning.

The ministry has also coordinated with state authorities to support projects and resolve their difficulties and obstacles. As a result of great efforts, Vietnam attracted nearly 1,200 new projects from 54 foreign countries and territories and permitted 450 ongoing projects to increase their capital in the first 11 months of this year./.

By Nguyen Hoa

Theo ven.vn