10:29 | 24/03/2016 Investment
(VEN) - The General Statistics Office recently published the foreign direct investment figures for the first two months of the year, with Singapore surging into the lead among 31 countries and territories investing in Vietnam.
Photo: Can Dung
Singaporean businesses invested US$435.2 million in the first two months of this year accounting for 22.8 percent of total registered capital and leading countries investing in Vietnam.
Malaysia and the Republic of Korea took second and third places with registered capital of US$233.2 million (12.2 percent) and US$202.4 million (10.6 percent), respectively. Experts forecast that the establishment of the ASEAN Economic Community at the end of 2015 was a major reason for a robust increase in Singaporean investment in Vietnam in 2016.
As many as 291 new FDI projects were licensed in the first two months of this year with total registered capital of US$1.905 billion, a 96.6 percent increase in the number of projects and a 167.5 percent increase in the amount of registered capital against a year ago.
Concurrently, 137 ongoing FDI projects increased their capital by US$898.3 million. Total new and supplementary capital reached US$2.803 billion in the first two months of this year, a 135 percent increase from the same months last year.
Most FDI projects are in the processing and manufacturing sector with registered capital of US$1.995 billion accounting for 71.2 percent of total registered capital, while entertainment attracted US$210.6 million accounting for 7.5 percent. The remaining sectors received US$597.8 million accounting for 21.3 percent of total registered capital in these two months.
Thirty-two of all 63 centrally-controlled provinces and cities attracted new FDI in the first two months including Hanoi attracting US$242.4 million and accounting for 12.7 percent of total registered capital, Bac Giang US$206.1 million and 10.8 percent and Bac Ninh US$200.6 million and 10.5 percent.
At the meeting with trade counselors held at the end of February at the head office of the Ministry of Planning and Investment, Deputy Minister of Planning and Investment Nguyen Chi Dung said that international economic integration has provided ample opportunities for Vietnam to attract FDI. However, to make the most of them, the country needed to continue improving the investment environment in terms of transparency and facilitating investors, in order to compete with other countries in the region and the world.
US$1.5 billion worth of FDI capital was disbursed in the first two months of this year, a 15.4 percent increase from a year ago.