Despite the hiccups caused by the pandemic and social distancing efforts, additionally-registered investment increased. Could you explain why? Deputy Minister of Planning and Investment Tran Duy Dong Due to COVID-19, foreign direct investment (FDI) is forecasted to decrease by 40 per cent this year. However, Vietnam’s FDI attraction in the first 11 months of the year has not been so bad, achieving $26.4 billion – a drop of 16.9 per cent on-year – while its disbursement amounted to $17.2 billion, only 2.4 per cent less than previously. Compared to other countries, these declines are relatively small. Here, newly-registered capital decreased only slightly by 7.6 per cent on-year, while additionally-registered capital even came out at $6.3 billion, a rise of 7.8 per cent on-year. These are positive signals confirming the trust of foreign investors. Moreover, the export-import turnover of foreign-invested enterprises (FIEs) began to increase after 10 months of a continuous downfall. FIEs’ export turnover in the first 11 months was $180.9 billion, 6.6 per cent more on-year, and their import turnover totalled $148.8 billion, up 9.1 per cent, meaning that FIEs have maintained good operation and business results despite the challenges posed by the pandemic. This year, numerous foreign investors… Read full this story
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