The Hanoitimes - Foreign direct investment (FDI) commitments in the first eight months totaled US$24.35 billion, up 4.2% year-on-year, according to the investment ministry. As of August 20, disbursement of FDI projects jumped to US$11.25 billion, representing an increase of 9.2% year-on-year, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown. Illustrative photo. According to the agency, 1,918 new projects have been approved with total investment capital of US$13.48 billion between January and August, up 0.2% from the corresponding period last year, while 736 existing projects have injected an additional US$5.58 billion, equivalent to 87.2% from the same period last year. In the first eight months of 2018, 4,551 projects have had US$5.28 billion in capital contributed by foreign investors, up 50.9% year-on-year. Investors have invested in 17 fields and sectors, in which manufacturing and processing continued … [Read more...] about Actual FDI in Vietnam hits US$11.25 billion in 8 months
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Vietnam’s FDI highlights after 30 years of attraction
Production at the FDI New Apparel Garment Company (Photo: VNA)Remarkable contribution to economy According to Prof. Nguyen Mai, President of the Vietnam's Association of Foreign Invested Enterprises (VAFIE), from 1991 to 2017, foreign investors disbursed USD162 billion. On average, in the 1991-2000 period, Vietnam attracted USD1.95 billion each year. The figure increased to USD5.85 billion in the following ten years and USD12 billion in the most recent 7 years. Since 2001, after the regional economic crisis, there have been diverse hi-tech and modern service large projects by Intel, Nokia, Canon, Samsung and LG, heightening FDI proportion in industrial productivity and export turnover. In the past 5 years, many projects with capital of over USD1 billion have made Vietnam a place for production of the world, with hi-tech products like smart phones or tablets. In 2016, the FDI sector accounted for over 72% of total export turnover, and contributed some 20% of domestic collection and … [Read more...] about Vietnam’s FDI highlights after 30 years of attraction
Domestic animal feed controlled by import and FDI businesses
Viet Nam will produce more than 23 million tonnes of animal and poultry feed this year, according to a report by the Ministry of Agriculture and Rural Development (MARD). The report showed that the output of animal and poultry feed has increased rapidly in recent years, up 13 million tonnes compared to 2008. However, the market is now tilted towards foreign direct investment (FDI) enterprises. According to statistics from the Viet Nam Animal Feed Association, the country had 240 animal feed production businesses, of which 180 were domestically run. Although domestic enterprises outperformed in terms of quantity, foreign firms still led the way in terms of capacity and market share. The production capacity of Vietnamese enterprises is about 12,465 tonnes per year, while FDI enterprises have a capacity of over 15,700 tonnes per year, accounting for 59.15 per cent of the total output. FDI enterprises are developing their production to dominate the animal feed market. Since the beginning … [Read more...] about Domestic animal feed controlled by import and FDI businesses
Vietnam forecast to continue receiving big FDI this year
Asia Briefing, a subsidiary of Dezan Shira & Associates, which provides business intelligence, due diligence, and legal, tax and advisory services throughout Vietnam and the Asian region, stated that in 2018, the government is targeting a growth of 6.7% which seems achievable based on the 2017 figures. Moreover, 2017’s record high registered foreign direct investment (FDI) is expected to lead to “a high disbursed FDI in 2018.” Vietnam will continue to remain a priority for investors in 2018. Opportunities not only exist in the traditional sectors such as garments, footwear, and electronics but also in renewable energy projects, high-tech agriculture, and other high-tech industries, according to Asia Briefing. “Investors will continue to find the traditional export-oriented sectors such as electronics, garments, and footwear to be attractive. In addition to the export-oriented sectors, the domestic market also provides an opportunity for investors. With … [Read more...] about Vietnam forecast to continue receiving big FDI this year
FDI mostly focused on labour-intensive and mining projects
Foreign direct investment (FDI) in Vietnam is mostly focused on mining and labour-intensive industries. The Vietnam Chamber of Commerce and Industry (VCCI) reported on the agency’s assessment on the country’s FDI to the National Assembly Committee for Economic Affairs. Foreign direct investment in Vietnam is mostly focused on mining and labour-intensive industries According to VCCI, the number of high-tech FDI projects in Vietnam has remained low. Vietnam boats some advantages for attracting FDI thanks to the low labour and energy costs along with corporate income tax preferences. By late June this year, Vietnam pulled in a total registered FDI capital of USD331.2 billion. Of the sum, USD180.7 billion had been disbursed. The electronics sector saw the participation of many major names such as Samsung, Intel, LG, GE, Mitsubishi, Sanofi and Panasonic. VCCI suggested that the government needs to ensure the better equality for different economic sectors as well as … [Read more...] about FDI mostly focused on labour-intensive and mining projects