VIETNAM Foreign direct investment fell

Foreign direct investment fell

Foreign-invested projects have disbursed US$420 million so far this month, a year-on-year increase of 5 per cent, the Ministry of Planning and Investments Foreign Investment Agency said.

Nevertheless, the agency reported a strong drop of foreign direct investment. Only 40 new projects were granted investment certificates in January with a total registered capital of US$182.3 million, equivalent to only 15.6 per cent of the amount in January last year.

Only five FDI-projects had registered for capital increases this month with a total investment capital addition of $5.3 million, a year-on-year fall of 82.6 per cent.

Taking into account both new investments and capital increase, in the first month of this year foreign investors registered to invest $187.6 million, a year-on-year plunge of 84.3 per cent.

The processing and manufacturing industries had attracted most attention from foreign investors with 15 projects, worth $70 million (including new and increasing capital), which accounted for 37.3 per cent of the total FDI in January.

Second was the construction sector with nine projects involving $63.6 million of new and increased capital.

With more than $78.4 million of new and additional capital, Ba Ria-Vung Tau was the main destination for foreign investment in January.

Following were HCM City, Ha Tinh and Hung Yen provinces with capital of $46.8 million, $20 million and $18 million respectively.

This month 13 nations and territories invested in Viet Nam.

Singapore provided the biggest amount with a total capital of $58.2 million, equivalent to 31 per cent of the total capital.

South Korean provided the second biggest with capital of $49.9 million. Third was Japan whose firms poured in $26.3 million, 14 per cent of the total investment.

This agency report is compiled based on the report of provinces and cities up to yesterday.

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