FDI disbursement still stable

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Hanoi Times English - 31 month(s) ago 9 readings

The Hanoitimes - Though foreign direct investment (FDI) capital flow into Vietnam kept declining in the first four months of the year, FDI disbursements remained stable.

The Hanoitimes - Though foreign direct investment (FDI) capital flow into Vietnam kept declining in the first four months of the year, FDI disbursements remained stable.

US$1.09 billion was disbursed by foreign-invested businesses in April, taking the total in January-April to US$3.61 billion, equivalent to the same period last month, according to the Foreign Investment Agency of the Ministry of Planning and Investment.

Compared to the newly-registered capital of US$4.2 billion in the period, a year-on-year drop of 32%, FDI disbursements in the year to end-April had stayed at a stable level despite the bleak economic picture.

If this level is maintained, the target for US$10-11 billion disbursements set by the Ministry of Planning and Investment will be attainable, said experts. The ministry set the same target for FDI attraction this year.

The FDI disbursement target for this year is similar to what was achieved in 2010 and 2011. Given the result of the first four months, FDI project implementation has been kept stable over the past two years.

The country is paying more attention to FDI disbursements than FDI commitments this year, so o­nly projects that are deemed as feasible can seek approval.

Despite a smaller number of projects, the property sector attracted the most pledged FDI capital in January-April, at US$1.57 billion, with the Japan-invested Tokyu Binh Duong project alone accounting for US$1.2 billion.

The Tokyu project turned Binh Duong into the province in the country having the most registered FDI capital, at US$1.4 billion, followed by Haiphong , Quang Ninh and Ninh Binh.

Japan has emerged as Vietnam ’s biggest foreign investor, with US$2.36 billion committed, 76% of the total registered foreign capital, in the year to date.

The Ministry of Planning and Investment expects the country to lure US$15-16 billion in FDI this year, nearly the same as last year.


KTD

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