The amount of FDI disbursement reached US$3.4 billion in Vietnam in the first four months of 2010, up 36 % year on year. The monthly disbursement averaged US$850 million. This is a plausible result when the global economic crisis has just bottomed out. These figures cemented the optimism that Vietnam would draw a strong amount of FDI in 2010 and channel it into sustainable development targets.
Vietnam achieved remarkable results in FDI attractions in recent years. In 2009, the country lured US$21.48 billion, equalling a mere 24.6 % in 2008. In 2008 and 2009, the value of registered FDI approximated US$85.5 billion, exceeding a total of US$83.1 billion in the previous 20 years. In the first four months of 2010, the Southeast Asian nation attracted 263 new projects with a total registered capital of US$5.9 billion, equal to 74.3 % in the same period of 2009. Quang Ninh province took the lead with more than US$2.1 billion, accounting for 38.3 % of total registered capital, followed by Nghe An, Ba Ria - Vung Tau, Ho Chi Minh City, Ha Tinh and Quang Ngai. With over US$2.15 billion in the four month period, Netherlands was the largest out of 31 countries and territories investing in Vietnam, followed by Japan with US$1.1 billion and the U.S. with US$1.02 billion.
FDI attraction in 2010 reflected a new leap in quality, given more large-scaled high-tech projects. Specifically, the US-based AES Corporation, an energy company, invested US$2.147 billion in Mong Duong thermal power plant project in Quang Ninh province. Most projects have medium investment capital, the more than US$2 billion project outstands. Kobelco Iron Nugget Vietnam Limited registered to invest US$1 billion to produce iron nuggets in Nghe An province. The US-located Skybridge Dragon Sea invest US$902.5 billion to build a complex of business centres, conference centres and real estate centres in the Ba Ria - Vung Tau province. These projects proved that world-leading companies have strong confidence in Vietnam.
With the appearance of big foreign investors, Vietnam honourably stood at the 12th position on the FDI Confidence Ranking and ranked 93rd in Ease of Doing Business Ranking, according to A.T. Kearney. Recently, the US-based financial investment group Goldman Sachs put Vietnam in the group of 11 fastest-growing countries, so-called N-11 (list of countries that have a high potential to become the world's largest economies), in 2010, opening up opportunities for investors and asserting the best investment address in the world. In 2010 and subsequent years, Vietnam remains very attractive to foreign investors thanks to its good investment environment, abundant workforce and rich natural resources. More importantly, the Government of Vietnam always appreciates and creates most favourable conditions for foreign investors to do business in Vietnam in the most efficient way.
Thus, this year, Vietnam is confident to attract 10 % more of FDI capital than in 2009, reaching US$22-25 billion. Most attractive fields to foreign investors will be health services, manufacturing, consumer goods, financial services, energy, especially clean energy, and high-tech.
Thanh Hoang
Vietnamese
