Today: 17-12-2005
Foreign Direct Investment
Viet Nam attracts FDI capital of US$5.29 billion in 11 months
VNECONOMY updated: 25/11/2005
Viet Nam attracted a total Foreign Direct Investment (FDI) capital of US$5.29 billion over the first 11 months of this year, a year-on-year rise of 40.3 percent.
Of the capital, US$1.68 billion went to production expansion for 439 projects. The figures represent increases of 6.8 percent in the number of expanded projects and 94 percent of added capital as compared to the same period last year US$3.6 billion went to newly-licensed projects.
The registered investment capital focuses on services and industries.
The FDI sector disbursed US$3 billion in the reviewed period, a year-on-year rise of 14.5 percent. FDI enterprises earned combined revenues of US$20.2 billion, up by 26.6 percent, and remitted US$985 million to the State Budget, a 35.3 percent year-on-year rise.
Viet Nam in the past 11 months saw several large projects with advanced technologies initiated, such as projects on CDMA mobile phones and the Yamaha Motor and Mabuchi Motor companies' projects on producing spare motor parts.
The ministry plans between now and the end of this year to submit to the Prime Minister for approval a list of projects calling for foreign investment by 2010. It will coordinate with relevant ministries to boost Japanese-invested projects, assess a Viet Nam-Japan programme of joint initiatives, a project on Viet Nam-Singapore economic links and a project on Viet Nam-US consultative council in order to attract more foreign investment.
Source: Vietnam Agency
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