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Vietnam Attracts US$10 Billion Worth of FDI for First 7 Months - Vietnam Briefing News

Jul. 30 – According to the Foreign Investment Department, Vietnam attracted US$10.1 billion of foreign direct investment during the first seven months of the year.

The agency says that FDI is on course with its aim to attract US$20 billion in FDI capital with a disbursement of US$8 billion by the end of the year. Of the reported figure, 46 percent was additional capital for 125 existing projects while 53 percent was considered registered capital for 385 newly-licensed projects. During the period, realized capital amounted to US$4.6 billion.

Despite the huge figure, FDI for this period is remains dismal because it is still a 22.5 percent decrease compared to the same period last year.
From the start of the year to July 20, some $10.1 billion in FDI had been pledged to Vietnam, a drop of 81 percent from the same period of 2008, reports Reuters.

Taiwan is the country’s top investor accounting for US$21.2 billion in 2,005 projects. Following Taiwan is the Republic of Korea with US$20.1 billion, Malaysia with more than US$18 billion and Japan with US$17.6 billion.

Majority of FDI went to the processing and manufacturing industries with US$88 billion. Real estate development came in at second place with more than US$34.3 billion, then followed by services, hotels and restaurants projects with US$10.7 billion.