Vietnam attracts over $12.6bn from FDI in first 8 months

Vietnam received over 12.63 billion U.S. dollars from foreign direct investment (FDI) in the first eight months of this year, a year-on-year increase of 19.5 percent, according to the Ministry of Planning and Investment on Monday. Specifically, 769 new FDI projects were granted licenses during the reviewed period, with a total registered capital of over 7.4 billion dollars, up 12.2 percent year on year. Meanwhile, 297 on-going projects expanded their capital of over 5.22 billion dollars, up 31.7 percent. Manufacturing and processing sector attracted the most FDI capital with nearly 10.82 billion dollars, accounting for 85.7 percent of the total registered amount. Real estate came next, luring over 588.1 million dollars, accounting for 4.7 percent. Among 47 foreign countries and regions investing in the country so far this year, Japan topped the list with newly registered and expanded investment of 4.35 billion dollars (accounting for 34.5 percent of the total), followed by Singapore with 3.78 billion dollars (29.9 percent) and Russia with 1.01 billion dollars (8.1 percent). Central Thanh Hoa province took the lead among 50 cities and provinces having received FDI in the first eight months with over 2.81 billion dollars, accounting for 22.3 percent of the country' s total amount. Northern Thai Nguyen province was followed with 2. 15 billion dollars (17.1 percent) and northern Bac Ninh province with 1.39 billion dollars. The export value of the FDI sector (excluded crude oil) during the reviewed period reached 51.24 billion dollars, a year-on-year increase of 26 percent and accounting for 60.42 percent of the country's total export value. Meanwhile, the FDI sector spent 48.29 billion dollars for the imports, up 25.1 percent and making up 56.55 percent of the total import value. As a result, the FDI sector earned a trade surplus of 7.81 billion dollars, while the country hit a trade deficit of 577 million dollars. As of Aug. 20, the FDI projects disbursed 7.56 billion dollars, an increase of 3.8 percent compared to the same period last year, reported the ministry.