15:19 | 16/04/2015 Investment
US enterprises have invested in 17 out of 21 industries in Vietnam with the majority in the accommodation and food service industry, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
US enterprises have invested in 17 out of 21 industries in Vietnam with the majority in the accommodation and food service industry. (Photo: nhandan.org.vn)
American investors have poured 4.68 billion USD into 17 accommodation and food service projects, accounting for 42.3 percent of the total US investment in Vietnam, Nhan Dan newspaper quoted the source as saying.
The manufacturing and processing industry was their second choice with an investment of 2.24 billion USD in 323 projects, accounting for 20.3 percent of the total US investment in Vietnam. By March 20, the US had 735 valid projects in Vietnam with a total registered capital of over 11 billion USD, ranking seventh among 101 countries and territories investing in the Southeast Asian country. The average capital per project is 15 million USD, which is higher than the average capital of a foreign direct investment (FDI) project in Vietnam at 14.3 million USD.
In the first quarter of 2015, eight new US projects were licensed and two existing projects were approved to expand capital with a total newly registered and supplemented capital of nearly 70 million USD, ranking seventh among 33 countries and territories investing in Vietnam in the first quarter of this year.
The statistics from the Foreign Investment Agency showed that 74.8 percent of the US investment in Vietnam was poured into wholly US-owned projects and 23.5 percent of investment was in joint-venture projects, while a small percentage of investment went to joint stock companies and business cooperation contracts.
American investors are present in 42 of 63 provinces and cities nationwide with 18 projects worth 5.3 billion USD in Ba Ria-Vung Tau province, making up 50 percent of the total US investment in Vietnam.
Hai Phong was the runner-up, attracting 13 projects valued 1.2 billion USD while Binh Duong province came in third with 970 projects worth 780 million USD.
To date, Winvest Investment Vietnam has been the largest US project in Vietnam, located in Ba Ria-Vung Tau with a total investment of 4.1 billion USD since 2007.