Vietnam sees strong FDI flows from APEC partners

Projects by companies from other APEC countries not only have big scales but also make sizeable contributions to Vietnam’s socioeconomic development. FDI from these countries is still continuing to flow into Vietnam. The Bac Ninh People’s Committee will soon issue the investment certificate to expand Samsung Display in Yen Phong Industrial Park. With the addition of this project, South Korean FDI in Vietnam has reached $53 billion, a number unthinkable a few years ago. The great speed at which Samsung has increased its investments in Vietnam has attracted other South Korean companies to follow in suit. FDI from South Korea has made up a significant portion of FDI from APEC countries. According to numbers from the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment, as of the end of 2016, apart from Peru, Papua New Guinea, and Chile which do not yet have any projects in Vietnam, the other 17 APEC members have already entered the country, registering a total of $230 billion, making up 78.5 per cent of the total FDI flows into Vietnam in the past 30 years. Notably, of the Top 10 biggest investors in Vietnam, besides British Virgin Islands ranking 5th, the remaining nine spots belong to APEC members. Together, the nine top FDI providers from the APEC provided $209.3 billion, accounting for 91 per cent of the total APEC investment in Vietnam, and 71 per cent of total FDI in the country. Not only ranking top of the chart in terms of… [Read full story]