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Vietnam's FDI disbursement hits record high in 2016

by December 29, 2016 General

HANOI, Dec. 29 (Xinhua) — Vietnam’s foreign direct investment (FDI) disbursement is expected to hit a record high of some 15.8 billion U.S. dollars in 2016, up 9 percent year-on-year, said the Ministry of Planning and Investment (MPI) on Thursday.

So far this year, the country has granted new licenses to 2,556 FDI projects worth 15.182 billion U.S. dollars, up 27 percent in volume and down 2.5 percent in value year-on-year.

Besides, some 5.765 billion U.S. dollars is registered to be added to other 1,225 FDI projects, down 19.7 percent in value and up 50.5 percent in volume year-on-year, said the MPI.

Meanwhile, as many as 2,547 foreign-invested companies and organizations have bought shares of local companies worth 3.425 billion U.S. dollars.

As such, in total, Vietnam is forecast to lure some 24.372 billion U.S. dollars from foreign investors, up 7.1 percent year-on-year.

This year, manufacturing and processing industry is likely to attract the most FDI with 9.812 billion U.S. dollars, accounting for 64.6 percent of the national total newly-registered FDI.

Real estate business ranks the second with 1.522 billion U.S. dollars, accounting for 10.1 percent while wholesale and retail sale of autos and motorbikes attracts 367 million U.S. dollars, making up 2.4 percent, said the ministry.

Among 51 localities nationwide with FDI, northern Hai Phong City is projected to have the biggest figure with 2.464 billion U.S. dollars, followed by capital Hanoi, southern Binh Duong, Dong Nai provinces and Ho Chi Minh City.

Among 68 countries and regions investing in Vietnam, South Korea is the biggest investor with 5.518 billion U.S. dollars, followed by Singapore, China and Japan.