Report revises 2014 FDI figures

11:44 | 18/03/2015 Economy

Foreign direct investment (FDI) in the country decreased by 1.9% on the year to US$21.92 billion in 2014, according to the Foreign Investment Agency's revised report.

Report revises 2014 FDI figures

Earlier in December, the agency announced that the country had attracted US$20.23 billion in FDI for the year, down 6.5%. But the newer figure, calculated as of December 15, reflected less of a fall.

According to the report released late last week, about 1,843 new foreign-invested projects received investment licences by the end of 2014, with a total registered capital of US$16.5 billion - 14% higher than the previous year's figure.

Four of these projects had investment capital of more than US$1 billion, equivalent to 30.5% of the total FDI pledged in the country. The endeavours include a $3 billion expansion of Samsung Electronics Vietnam Complex in the northern province of Thai Nguyen, a US$1.4-billion Samsung CE Complex project developed by Samsung Asia Pte in HCM City and Dewan International's US$1.25-billion beach resort in Nha Trang.

Meanwhile, 749 operating projects were allowed to raise their capital by US$5.41 billion, or 68.8% of the figure seen in 2013.

During the reviewed period FDI disbursement also followed a positive trend, with an 8.7% rise over the previous year to US$12.5 billion.

Foreign investors last year pumped investment into 18 different sectors. Of these, the manufacturing and processing sector attracted the largest share of FDI with US$15.5 billion or 70.7% of the nation's total FDI. It was followed by real estate trading with US$2.83 billion and the construction sector with US$1.08 billion.

Among the 63 countries and territories investing in Vietnam, the Republic of Korea took the lead with US$7.7 billion, accounting for 35.1% of total FDI registered in the country. Hong Kong came second with US$3.03 billion or 13.9%, while Singapore ranked third with US$2.89 billion or 13.2%.

The report said the northern province of Thai Nguyen was considered the most attractive destination by foreign investors in 2014. It drew US$3.35 billion in investments, or 15.3% of the country's total FDI. HCM City and the southern province of Dong Nai came second and third, with US$3.26 billion or 14.9% and US$1.83 billion or 8.4%, respectively.

During the January-December period, the foreign-invested sector earned US$101.21 billion from exports, a yearly increase of 14.8% or equivalent to 67.4% of the country's total export value. Its imports topped US$84.19 billion, up 13.1%. That meant the sector recorded a trade surplus of US$17.02 billion.

 Source VOV News