ID :
140233
Tue, 08/31/2010 - 21:27
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Shortlink :
http://m.oananews.org//node/140233
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Foreign direct investment (FDI) in the first eight months of this year
Hanoi (VNA) – Foreign direct investment (FDI) in the first eight months of this
year has seen changes with about 57 percent of the total registered capital of 11.5
billion USD focused on processing and manufacturing technology and production.
The processing and manufacturing technology sectors are magnets for foreign
investors, with total registered capital of about 3.7 billion USD for 265
newly-licensed projects and 102 expanded others in the first eight months of 2010,
after a standstill during the 2006-2009 period.
Noteworthy are large-scale projects such as the Hai Duong thermal electricity plant
with registered capital of 1.6 billion USD by Malaysia’s Jacks Resources, the
Quang Ninh thermal electricity plant capitalised at 2.1 billion USD by the AES-TKV
Mong Duong Electricity Co. Ltd, the 1 billion USD Vietnam Kobelco Steel Company in
Nghe An province, and the 360 million USD Posco SS-Vina Company in Ba Ria-Vung Tau
province.
The positive change is the biggest difference in FDI structure compared with the
same period last year. According to the Ministry of Planning and Investment’s
Foreign Investment Agency (FIA), FDI in accommodation services accounted for nearly
45 percent of the total registered capital of 13 billion USD in the first eight
months of 2009, and the proportion was reduced to 23 percent in the comparable
period of 2010.
The change of FDI flow in Vietnam is attributed to global and domestic economic
recovery and the government’s macro-economic management policy, experts said.
However, the change has not helped reduce the country’s trade deficit, excluding
exports of crude oil.
According to FIA statistics, although January-August exports from the FDI area rose,
its trade deficit reached 1.7 billion USD, accounting for 19.7 percent of the
country’s total trade deficit.
The country’s FDI attraction policy needs to consider both the target for
development of for-export production and the competitiveness of domestic investment
flow, according to James Riedels, economist of the USAID/STAR-Vietnam Technical
Assistance Project.-Enditem
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year has seen changes with about 57 percent of the total registered capital of 11.5
billion USD focused on processing and manufacturing technology and production.
The processing and manufacturing technology sectors are magnets for foreign
investors, with total registered capital of about 3.7 billion USD for 265
newly-licensed projects and 102 expanded others in the first eight months of 2010,
after a standstill during the 2006-2009 period.
Noteworthy are large-scale projects such as the Hai Duong thermal electricity plant
with registered capital of 1.6 billion USD by Malaysia’s Jacks Resources, the
Quang Ninh thermal electricity plant capitalised at 2.1 billion USD by the AES-TKV
Mong Duong Electricity Co. Ltd, the 1 billion USD Vietnam Kobelco Steel Company in
Nghe An province, and the 360 million USD Posco SS-Vina Company in Ba Ria-Vung Tau
province.
The positive change is the biggest difference in FDI structure compared with the
same period last year. According to the Ministry of Planning and Investment’s
Foreign Investment Agency (FIA), FDI in accommodation services accounted for nearly
45 percent of the total registered capital of 13 billion USD in the first eight
months of 2009, and the proportion was reduced to 23 percent in the comparable
period of 2010.
The change of FDI flow in Vietnam is attributed to global and domestic economic
recovery and the government’s macro-economic management policy, experts said.
However, the change has not helped reduce the country’s trade deficit, excluding
exports of crude oil.
According to FIA statistics, although January-August exports from the FDI area rose,
its trade deficit reached 1.7 billion USD, accounting for 19.7 percent of the
country’s total trade deficit.
The country’s FDI attraction policy needs to consider both the target for
development of for-export production and the competitiveness of domestic investment
flow, according to James Riedels, economist of the USAID/STAR-Vietnam Technical
Assistance Project.-Enditem
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