09:39 | 30/03/2016 Economy
Foreign investors are registered to invest approximately 4.03 billion USD in Vietnam in the first quarter of this year, surging by 119 percent against the same period last year.
Workers at Bluecom Vina Company Limited. (Source: Vietnamnet.vn)
Statistics from the Foreign Investment Agency (FIA) revealed that investors from the Republic of Korea (RoK) took the lead with 888.6 million USD, accounting for 22 percent of the nation’s total foreign direct investment (FDI). They were followed by those from Singapore and Taiwan with 554 million USD and 466 million USD, respectively.
According to the FIA, up to 473 new foreign-invested projects, totalling 2.74 billion USD, received investment certificates during the reviewed period, up 125 percent year-on-year. In addition, 203 operating projects were approved to raise capital by 1.29 billion USD, up 107 per cent on-year.
Meanwhile, FDI disbursement also saw an encouraging increase of 15 percent to 3.5 billion USD.
In the first three months, foreign investors injected funds into 19 sectors. Of these, the manufacturing and processing industry attracted the lion’s share of FDI with 2.9 billion USD, accounting for 72.2 percent of the total FDI pledged in the country. The real estate industry ranked second with about 240 million USD, equivalent to 6 percent. One large-scale project, valued at approximately 211 million USD, helped the entertainment industry come third, representing 5.2 percent of the nation’s total FDI.
The southern province of Dong Nai surpassed the capital city to become the most deal destination for foreign businesses as it absorbed 585 million USD in investments, totalling 14.5 percent of FDI registered in the country. Bac Ninh and Binh Duong provinces came second and third with 398 million USD or 9.8 percent, and 371 million USD or 9.2 percent, respectively.
Earlier, Deputy Minister of Industry and Trade Do Thang Hai said several foreign businesses were attentive to recent developments and wanted to shift their investments into Vietnam as they saw big opportunities from the Trans-Pacific Partnership (TPP) and Free Trade Agreements (FTAs) signed by the country.
Vietnam should have proper policies to make foreign investment in the country effective, contributing to the country’s economy, he said, adding that during each development period, there should be policies specially designed to encouraging and support industry, hi-tech and infrastructure projects./.