FDI disbursement reaches $1 bln in Jan-Feb

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Báo Tuổi Trẻ English - 34 month(s) ago 4 readings

FDI disbursement reaches $1 bln in Jan-Feb

The disbursement of foreign direct investment (FDI) in Vietnam reached around $1 billion in the first 2 months of this year, down over 9 percent year on year.

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The disbursement of foreign direct investmen t (FDI) in Vietnam reached around $1 billion in the first 2 months of this year, down over 9 percent year on year.

The total pledged and expanded FDI during the same time went down 50 percent year on year to $1.23 billion.

As of February 20, there were 65 newly licensed FDI projects with registered capital worth $910.9 million, plummeting 55 percent over last year.

There were 25 operational FDI projects increasing their capital by $320 million, down 52 percent year on year.

Thus, the total newly pledged and raised FDI capital in the first two months of this year was $1.23 billion, down 54.5 percent from a year earlier.

In the period, the processing and manufacturing sector drew foreign investors' attention the most, with 26 new projects. The total new investment and newly added capital reached $994.29 million, accounting for 80.8 percent of the total FDI capital.

The transportation and logistics sector ranked second with $180 million in new investments and newly added capital, followed by the retail and wholesale sector with $27.1 million.

Japan topped the list of 23 countries and territories that have invested in Vietnam in the first 2 months of this year with $1.07 billion of new investments and newly-added capital, followed by Taiwan and Singapore.

Northern Hai Phong City attracted the highest FDI investment with $605.16 million of new investments and newly added capital.

Central Khanh Hoa Province and southern Binh Duong ranked second and third, respectively.

Trade deficit estimated at $800m in Feb

Vietnam is estimated to have a trade deficit of $800 million this month after a trade surplus of $172 million in January, according to General Statistical Office (GSO).

Its export turnover is estimated to have reached $8.2 billion in February 2012, up 15.6 percent from the previous month and 66.3 percent over the same period last year. Meanwhile, the country's import spending was $9 billion this month, up 30 percent month on month and 47 percent year on year.

However, in comparison with last February, the country's trade deficit this month declined 33 percent.

Excluding the trade surplus in January, this month’s trade deficit is the highest level since October 2011.

In total, during the first two months of this year, the country reaped $15.3 billion from exports, rising 24.8 percent year on year while the import value was $15.9 billion, up 11.8 percent year on year.

Accordingly, in Jan-February 2012, the country's trade deficit was $628 million, down 67 percent on year and accounting for 4.1 percent of the country's total export turnover.

Among items with high export turnover in Jan-Feb, apparel products fetched $2.2 billion, a year-on-year increase of 25.4 percent, followed by footwear ($1 billion), rising 21 percent. Crude oil ($1 billion), is down 1 percent and electronic products, computer and components ($856 million), rose 62 percent.

Some items posted high import value such as machines, equipment, instruments and spare parts with $2.3 billion, up 4.2 percent on year. Electronic products, computers and components are at $1.7 billion, up 101.4 percent, and iron and steel are at $960 million, up 16.6 percent.

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