Vietnam has seen US$1.56 billion of foreign direct investment (FDI) registered in the first two months of 2011, equaling to 68% of the registered capital in the same period last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment (MPI).
Of which, 93 new projects with a total registered capital of US$1.47 billion were licensed as of February 23, 2011, and 14 FDI projects recorded an increase of US$86 million in registered capital, equaling to 27.8% of that in the same period of 2010.
The processing and manufacturing industry ranked first with 39 newly-registered projects worth US$1.2 billion, accounting for 77% of the total registered capital so far this year. The construction sector ranked second with 12 projects registered and saw a total capital increase of US$71.7 million, accounting for 4.6% of the total investment. Whole sales and retails, and professional activities and technology science recorded additional investments of US$48.8 million and US$16.1 million, respectively.
The Foreign Investment Agency reported that 21 countries and territories invested in Vietnam in the first two months of this year. Singapore is the biggest investor with a total capital of US$1.08 billion, making up 69.2% of the total investment. BritishVirginIslands ranked second with an additional capital of US$186 million, following by Korea with US$89.9 million, and Malaysia with US$42.7 million.
Ho Chi Minh City attracted the largest amount of FDI so far this year with an additional capital of US$1.1 billion, following by central Da Nang City, Ba Ria-Vung Tau province and Dong Nai province with US$180 million, US$81.4 million and 47.2 million, respectively.
Large-scale projects licensed in the first two months included First Solar Vietnam Co., Ltd project in the field of a processing and manufacturing invested by Singapore in Ho Chi Minh City with a total investment of more than US$1 billion, Da Nang Yacht Wharf Co. project worth US$174 million invested by BritishVirginIslands, and a well drilling joint venture project invested by PV Drilling and Baker Hughes in Ho Chi Minh City worth US$20 million.
In the first two months of 2011, FDI disbursement reached US$1.15 billion, up 4.5% over the same period last year, estimated MPI.
According to the Foreign Investment Agency, exports of FDI enterprises, including oil and gas industries, is estimated to top at US$6.98 billion in the first two months, a year-on-year increase of 40.1% and accounting for 56.6% of Vietnam’s export value. The export value of FDI sector, excluding crude oil, will stand at US$6 billion, accounting for 48.7% of the total export value.
Imports of FDI sector stood at US$5.93 in the first two months, up 31.9% over the same period last year and accounting for 41.9% of the country’s import value, reported the Foreign Investment Agency.
In the two months, the FDI sector saw a trade surplus of US$1.05 billion; meanwhile Vietnam in general faced a trade deficit of US$1.83 billion.
Nam Pham
Vietnamese
