Vietnam FDI -8.5 Folds at US$200 Mln in January
Vietnam reportedly attracted only US$200 million of foreign direct investments, down 8.5 times on year and down 88 per cent on month, the Ministry of Planning and Investment's Foreign Investment Department said.
Almost all projects Vietnam licensed in January are small with registered capital ranging from US$3 million to US$3.5 million, mainly in industrial field. Disbursements represented 70 per cent of 2008's figure, the department said.
The ministry attributed sharp drop in FDI attraction to the global economic downturn, forecasting that outlook will be brighter in February.
Currently, Vietnam's southern province of Ba Ria-Vung Tau is negotiating with foreign investors for tourism projects with registered capital of US$200 million and will license in couple of days.
This year, Vietnam will focus on disbursements of FDI, the ministry said.
Last year, Vietnam recorded US$64 billion FDI and received only US$11.5 billion. (New Hanoi)
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