Industry-construction most attractive to foreign investors

Hanoi (VNA) - The industry and construction sector has taken in more than
half of the FDI inflow over the last 10 months in terms of both project
number and capital amount, according to the Ministry of Planning and
Investment (MPI).

The sector absorbed 512 projects (53.7 percent) valued 32.5 billion USD
(55.7 percent) in the January-October period.

It is followed by the service sector with 400 projects and 25.5 billion
USD in registered capital, accounting for 42 percent of the total project
number and 43.9 percent of the capital flow.

The MPI reported that 76.4 percent of FDI projects in all sectors are
wholly foreign owned enterprises, and 17.6 percent are joint ventures.

Since the Law of Foreign Investment came into effect in 1988, the industry
and construction sector has always constituted the biggest proportion in the
FDI structure in Vietnam with 5,745 projects and total registered
capital of 50 billion USD.

Foreign investors poured two more billion USD into 68 new projects in
Vietnam in October, bringing total FDI amount so far this year to 58.3
billion USD.
The total investment capital in 10 months saw a 6-fold rise over
the same period last year, despite a decrease in project number which
totaled 953, equal to 83.3 percent of the figure one year ago.-Enditem