First-Half FDI Decreases (13/7)
13/07/2011 - 11 Lượt xem
Specifically, in the first half of 2011, 455 foreign direct investment (FDI) projects totaling US$4.399 billion in registered capital were licensed in Vietnam, which is 50.1 percent of that during the same period last year, while 132 FDI projects registered to increase their capital by a total of US$1.267 billion, up 5.3 percent from the first half of 2010.
Large projects licensed in the first six months of 2011 include the more-than-US$1-billion First Solar Vietnam Manufacturing Company Limited (Singapore) in Ho Chi Minh City, the US$323.01 million NSG Company Limited in Ba Ria-Vung Tau Province, a joint venture between the UK's Pilkington Group Ltd (PGL) and Vietnamese partners, and the US$322.2 million Gamuda Land Vietnam (Malaysia), the last one of which was designed for constructing and installing wastewater treatment facilities in Hanoi.
While FDI capital attracted in the first half of this year is just 56.7 percent of that during the same period last year, FDI capital that were already invested in the first six months of 2011 amounted to US$5.3 billion, 98.1 percent of that in the same period of 2010, the Foreign Investment Department said. Hanoi and Ba Ria-Vung Tau and Binh Duong provinces ranked first among provinces and cities nationwide in terms of disbursed FDI capital.
Processing and manufacturing industries attracted 205 newly licensed projects. In the first half of this year, they attracted an additional US$3.3 billion, both newly registered and increased capital, which accounted for 58.8 percent of all FDI capital registered in this period. Construction attracted 54 FDI projects. This sector attracted an additional US$474.8 million in newly registered and increased capital, which accounted for 8.4 percent of all FDI capital registered in the first half of this year. Accommodation and catering services attracted an additional US$356.9 million in newly registered and increased capital, which accounted for 6.3 percent of all FDI capital registered in the first six months of 2011.
Since 2011, there have been 38 countries and territories investing in Vietnam. Singapore has taken the lead with an investment capital of US$1.33 billion (representing 23.39 percent of all FDI capital in Vietnam in the first half of this year). The Republic of Korea (RoK) ranked second with an investment capital of US$673.6 million (11.89 percent), Hong Kong-China ranked third with US$631.8 million (11.15 percent), Japan ranked fourth with US$466.92 million (8.24 percent).
Ho Chi Minh City was the top FDI attractor with US$1.47 billion (accounting for 25.97 percent of all FDI capital attracted by Vietnam in the first half of this year), while Ba Ria-Vung Tau ranked second with US$500.1 million (8.83 percent), and Hanoi ranked third with US$498.5 million.
Asked by the media why FDI in the first half of 2011 was less when compared with the same period in 2010, Minister of Planning and Investment Vo Hong Phuc said that there were many reasons for the decrease, one of which is the public debt crisis in Europe and the US, and that the earthquake and tsunami in Japan had decreased Japanese investment in Vietnam. A more important reason is the internal situation of the macro-economy and inflation in Vietnam that influenced interest rates and business profitability, he said.
Since the implementation of Resolution 11/NQ-CP, the Vietnamese economy has stabilized and inflation has been gradually curbed. The Japanese economy is recovering so Japanese investment in Vietnam is expected to increase in the coming time. Hence, FDI attraction is expected to have many more opportunities in the remaining months of this year./.
Source: VEN.
