Property attracts most FDI in 1st quarter

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Báo Tuổi Trẻ English - 27 month(s) ago 7 readings

Property attracts most FDI in 1st quarter

The property sector has again become the sector with the greatest amount of new foreign direct investment (FDI) in the first quarter, after a long period of sharp decline.

IP For illustration purpose only

Real estate accounted for 45.5 percent of the total registered capital in the year’s first three months, said the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

This achievement is partially attributed to the US$1.2-billion Tokyu Binh Duong Garden City project developed by Becamex IDC and Japan’s Tokyu Corporation.

Having a long term goal in Binh Duong, these investors kicked off the project right on the day they received the investment certificate early this March in order to promptly complete the 71-hectare project before Binh Duong becomes a centrally-governed city in 2020.

The billion-dollar Tokyu Binh Duong Garden City project helped bring the total newly registered and additional FDI capital in the first three months of the year to $2.63 billion, or 63.6 percent of the same period last year.

As of March 20, there were 120 new projects licensed nationwide worth $2.26 billion, or 77.2 percent of the same period last year.

In the mean time, 29 operational projects registered to raise their investment capital by an additional $368 million, or 30.4 percent of the same period in 2011.

Manufacturing and processing industries, which topped the list in the first two months, fell to the second place with 51 newly registered projects and 25 projects with additional capital, worth $1.17 billion in total, or 44.6 percent of the total registered capital.

Transport and storage took the third position with $180 million in new and additional FDI capital, or 6.8 percent of the total registered capital in the first quarter.

According to FIA, in the last three months, the foreign capital inflows to the big projects came mostly from Japanese investors.

Specifically, apart from the $1.2-billion property project mentioned above, there were also a project worth $574 million invested by the Japanese tire maker Bridgestone Corporation in Hai Phong-based Dinh Vu Industrial Park and the $180-million project of Oshima Shipbuilding Co. Ltd.

With many large-scale projects, Japan has become the biggest foreign investor in Vietnam in the first quarter, with the newly registered and additional capital reaching US$2.3 billion, equivalent to 88.8 percent of the nation’s total.

The Netherlands ranks second with $46.1 million, or 1.7 percent, followed by Taiwan with $42.9 million, or 1.6 percent.

FDI disbursement in the first quarter of the year also showed positive signs, said FIA.

Particularly, FDI enterprises disbursed $1.52 billion in March, bringing the total disbursement of the first three months to $2.52 billion, or 99.2 percent of the same period last year.

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