Netherlands Outs U.S. as Top Foreign Investors in Vietnam
The Netherlands has overtaken the U.S. as top foreign investors in Vietnam this year, the Foreign Investment Agency under Ministry of Planning and Investment (MPI) said.
Investors from that Netherlands have invested $2.15 billion in Vietnam, including a project worth VND2.4 billion, while the U.S. firms have committed $1.02 billion in the Southeast Asian country, the MPI added.
U.S. AES Corporation invests $2.14B in thermal power project in northern province of Quang Ninh, but the company mobilizes the capital from the Netherlands.
The communist nation licensed 833 foreign-invested projects totaling $12.1 billion and allowed 210 existing projects to add their capital by $1.2 million between January and November.
Foreign investors disbursed $9.95 billion in the country during the period, rising nearly 10% from a year earlier.
This year, the Southeast Asian country expects to attract $25 billion and disburse $11 billion in FDI this year, up 16.38% and 10% on-year respectively.
Foreign direct investment, along with overseas remittances, has been an important source of foreign exchange, helping finance Vietnam's growing trade deficit, which rose to an estimated $10.66 billion in the January-November period. (Youth)
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