Vietnam FDI Disbursements Rise 10% This Year: Ministry
Disbursements of foreign direct investment (FDI) in Vietnam are estimated to soar 10% from a year earlier to $11 billion this year, the Ministry of Planning and Investment (MPI) said.
Vietnam licensed 1,238 FDI projects with a total pledge of $18.6 billion this year, down 17.2% on year and failing to meet its full-year target of $22 billion-$25 billion, the MPI added.
Real estate tops among sectors with $6.8 billion during the year, followed by processing and manufacturing industry with $5 billion and production, electric, gas, water distribution and conditioners with $2.9 billion.
Singapore became the biggest investors in Vietnam during the year though it ranked the 10th place by end-October. South Korea ousted the Netherlands to rank the second behind the Singapore.
The central province of Quang Nam held the 1st position among Vietnamese cities and provinces in attracting FDI during the year. The southern province of Ba Ria-Vung Tau and Ho Chi Minh City were pushed in the second and the third, respectively.
The country is forecast to attract a total pledged FDI of between $20 billion and $22 billion next year, Nguyen Noi, deputy director general of Foreign Investment Agency under the MPI earlier said.
Foreign investors are estimated to disburse between $10 billion and $11 billion in 2011, compared to Vietnam’s full target of $11 billion in 2010, Noi added. (Investment, chinhphu.vn)
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