FDI to Viet Nam to increase, say officials

January 21, 2017 | 14:15

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Foreign direct investment (FDI) inflow to Viet Nam is expected to increase in 2017, said Do Nhat Hoang, director of the Foreign Investment Agency under the Ministry of Planning and Investment.

An improvement in the FDI inflow to Viet Nam this year is expected.-Photo dantri.com.vn

The most important task for Viet Nam was to select projects proper for the country’s development plans, such as those in hi-tech industries and others using environment-friendly and energy-efficient technologies and equipment, Hoang said.

Chairman of the Viet Nam Association of Foreign Investment Enterprises Nguyen Mai agreed that an improvement would be seen in the FDI inflow to Viet Nam this year.

He cited the agency’s statistics as saying that FDI disbursement in 2016 was estimated at US$15.8 billion, a record high and up 9 per cent year-on-year.

Newly-licensed projects and those raising levels of capital also increased by 27 per cent and 51 per cent, respectively, he said.

The association’s vice chairman Nguyen Van Toan emphasised the importance of breakthrough policies that could help the country attract more FDI in hi-tech industries.

Investment promotion activities should be targeted at countries and territories experienced in developing hi-tech industries, he said.

The agency’s report revealed that up to 64 per cent of FDI registered in the country in 2016 was pumped into manufacturing and processing while automobile and motorbike wholesale, retail and repair and real estate industries accounted for 8 per cent and 7 per cent of the nation’s total FDI, respectively.

South Korea remained Viet Nam’s leading source of foreign investment with $7 billion (28.8 per cent of the total). Japan came second with $2.58 billion (10.62 per cent), and Singapore was third with $2.41 billion (9.9 per cent).

HCM City led cities and provinces nationwide in attracting FDI, luring $3.42 billion (14 per cent of the total). The northern port city of Hai Phong came next with $2.98 billion (12.26 per cent). Ha Noi, Binh Duong and Dong Nai followed with $2.79 billion, $2.36 billion and $2.23 billion, respectively.

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