After two months of a slump, disbursement of foreign direct investment (FDI) rebounded in August, reaching US$1 billion for the month, said the Ministry of Planning and Investment.
Garments being made for the Japan-invested Toyotsu Vehitecs Viet Nam Co in southern Binh Duong Province. The country attracted US$9.57 billion in FDI for the eight months, marking a yearly decrease of 26 per cent. — VNA/VNS Photo Quach Lam
HA NOI — After two months of a slump, disbursement of foreign direct investment (FDI) rebounded in August, reaching US$1 billion for the month, the Ministry of Planning and Investment's Foreign Investment Agency announced.
The latest disbursement was the highest monthly level of its kind so far this year. This brought FDI disbursement in the first eight months of this year to $7.3 billion, a year-on-year increase of 1 per cent, it said.
The eight months, however, saw a gloom in the area of newly registered investment capital.
During the period, 582 new foreign-invested projects, worth a combined $7.94 billion, were licensed, marking a yearly decrease of 34 per cent in the number of projects and 30 per cent in the level of investment capital.
Meanwhile, 168 existing projects were approved to raise their capital by $1.62 billion, representing a modest increase of 1 per cent. The new additions have brought the total FDI registered in the eight months to $9.57 billion, down by 26 per cent year-on-year, the agency said.
Over the January-August period, the processing and manufacturing sector remained attractive in the eyes of foreign investors. It has attracted $4.6 billion or 48 per cent of the total FDI registered to country in the period.
The electricity, gas and water production and distribution sector contributed to $2.5 billion, while the construction industry made up $671 million.
Hong Kong was still Viet Nam's largest source of foreign investment with 34 projects worth $2.89 billion. It was followed by Sing-apore with 67 projects capitalised at $1.45 billion, South Korea with 200 projects valued at $851 million and Japan with 136 projects worth $844 million.
Among the country's ideal destinations for foreign investors were the northern province of Hai Duong, $2.5 billion; the southern hub of HCM City, $1.65 billion; and southern Ba Ria-Vung Tau Province, $780 million.
The agency also reported foreign-invested firms earned $32.64 billion from exports in the eight months, surging 34 per cent against the same period last year.
The firms also spent $30.1 billion for imports during the period, up 31 per cent. — VNS