Workers at a garment-textile firm in the southern province of Dong Nai (Photo: VNA) Dong Nai (VNA) – The southern province of Dong Nai absorbed nearly 690 million USD in 76 newly-licensed and existing foreign-invested projects this year to May 17, up 143 percent against the same period last year and fulfilling nearly 70 percent of the annual target. Of the amount, over 346 million USD was poured into 42 new FDI projects and over 343 million USD into 34 existing ones, according to the provincial Department of Planning and Investment. In May alone, Dong Nai attracted several new major projects such as the 40-million-USD project of the Republic of Korea’s HI-KNIT Company at Nhon Trach 6A industrial park; the 33-million-USD project of the Netherlands’ Air Manufacturing Innovation Vietnam at Giang Dien industrial park, the 32-million-USD project of Singapore’s Logistic Property Vietnam at Loc An – Binh Son industrial park, and the 29.8-million-USD project of … [Read more...] about Dong Nai draws nearly 690 million USD in foreign investment
Foreign investment
Micro foreign-invested businesses flock to Vietnam
VietNamNet Bridge - Many foreign registered investment projects capitalized at several millions of dollars each have been set up in Vietnam. Economists have warned that the existence of the micro enterprises will cause difficulties for domestic ones. In the first 3 months of 2018, Vietnam licensed 618 foreign invested projects FDI down by 30 percent Big foreign investors tend to bring satellite enterprises with them when coming to Vietnam, so Vietnamese enterprises don’t have the chance to join large corporation’s production chains. This is one of the reasons why Vietnam’s support industries remain underdeveloped. Vietnam, in attracting foreign direct investment (FDI), seeks huge foreign capital. The FDI picture in the first quarter of the year was unsatisfactory, not only because of micro projects, but also because of the lack of multi-billion dollar projects. RELATED NEWS Vietnam targets US, EU investors in new-generation FDI strategy Will … [Read more...] about Micro foreign-invested businesses flock to Vietnam
New foreign investment approvals in Jan-Apr drop sharply
New foreign investment approvals in Jan-Apr drop sharplyLe Hoang A view of downtown HCMC. The real estate sector recorded the second largest foreign investment in January-April. PHOTO: HUNG LE HCMC – Total foreign investments pledged in the year’s first four months fell by a sharp 23.9% to US$8.06 billion, according to the Foreign Investment Agency. Of the fresh foreign investment approvals in the period, pledges by existing and new projects declined significantly. In particular, 883 new projects that had been approved in the year to April 20 had total registered capital of US$3.55 billion, a fall of nearly 24% against last year’s same period. Besides, 303 operational projects registered to adjust their investment capital up by US$2.24 billion, a year-on-year drop of 48.5%. Regarding foreign indirect investment, the four-month period recorded 1,863 cases of foreign investors contributing funds or acquiring local shares with a combined value of US$2.26 … [Read more...] about New foreign investment approvals in Jan-Apr drop sharply
Foreign-invested firms’ disbursement up 7.2 percent
Illustrative image (Source: VNA) Hanoi (VNA) – Foreign-invested enterprises disbursed 3.88 billion USD in the first quarter this year, up 7.2 percent annually, according to the Ministry of Industry and Trade’s Foreign Investment Agency (FIA). The country attracted 618 newly-licensed projects with registered capital of 2.12 billion USD, up 25.4 percent in volume, proving that Vietnam remains attractive to foreign investors. Among 76 countries and territories investing in Vietnam in the first quarter, the Republic of Korea took the lead with 1.84 billion USD, accounting for 31.6 percent of the total. Hong Kong (China) ranked second with a registered capital of roughly 689 million USD, equivalent to 11.9 percent while Singapore poured 649 million USD, or 11.2 percent, coming third. FDI firms invested in 19 out of 21 sectors, mostly in manufacturing and processing with 188.52 billion USD (58.5 percent). It was followed by real estate with 53.56 billion USD (16.6 … [Read more...] about Foreign-invested firms’ disbursement up 7.2 percent
Improved business environment attracts more foreign investment
As per the Foreign Investment Agency under the Ministry of Planning and Investment, more foreign companies poured capital into their business in Vietnam, proving that the Vietnamese investment environment was attractive to foreign investors. At a Japanese-invested company (Photo: SGGP) In the first quarter of 2018, Vietnam received an estimated $3.88 billion in foreign direct investment (FDI) projects, up 7.2 percent from the same period in 2017. The country had 618 new investment projects with registered capital of $2,121 million, an increase of 25.4 percent on the quantity. This proves that the Southeast Asian country has better investment environment. South Korea was the leading country in investing in Vietnam with the total registered capital of $1.84 billion followed by Hong Kong (China) and Singapore with registered capital of $689 million and $649 million respectively in the first three months. FDI enterprises invested in 19 industry sectors of the country’s economy. … [Read more...] about Improved business environment attracts more foreign investment