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Viet Nam Today
Vietnam records biggest-ever FDI in first 11 months
11-27-2007, 10:22 am

The country is estimated to attract more than 15 billion USD in the first 11 months of this year, recording the biggest-ever figure in such a period, said the Foreign Investment Department under the Ministry of Planning and Investment.


Nhon Hoi Sea-port
This figure also showed 40 percent increase over the same period last year and exceeded the yearly target of 13 billion USD.

More than 13 billion USD was poured into 1,283 projects in the first 11 months and 314 existing projects are set to raise their combined capital by over 1.6 billion dollars, said the department.

Of the total FDI, nearly 5.7 billion dollars is set to be poured into the service sector, the agency said, noting that some 2.5 billion dollars is estimated to be invested in building apartments and offices for lease.

The Republic of Korean remained the first position among biggest foreign investors in Vietnam in the first 11 months of this year, with a registered capital of 3.68 billion USD, accounting for 29 percent of the total. The following positions were British Virgin Islands with 3.5 billion USD, Singapore with 1.55 billion USD, and Taipei (China) with 1.14 billion USD.

In spite of ranking the fifth among biggest foreign investors in Vietnam in the first 11 months with a registered capital of 771.8 million USD, Japan recorded the biggest increased capital with 315 million USD.

Mr. Phan Huu Thang, Head of the department said that the figures on FDI attraction showed that Vietnam is becoming an attractive investment destination in Asia through foreign investment community’s eyes.

Vietnam is estimated to lure FDI of 16 billion dollars in 2007, up from 10.2 billion dollars in 2006, and 6.4 billion dollars in 2005, according to the department.

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