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FDI in Vietnam falls, but EU investments start to recover
19
Oct '15
Vietnam attracted $8 billion in foreign direct investment (FDI) during the first seven months of this year, down by 67 per cent year-on-year, according to the Foreign Investment Agency's latest statistics.

But FDI from the European Union to Vietnam is recovering this year after a downtrend since 2011, a Vietnamese newspaper has reported.

The FIA report pointed out that the EU's total investment in Vietnam in the first half of this year reached $600 million, nearly the same as in the entire 2013 and even higher than in the whole 2014. The FDI from the EU has had recovery after reduction from 2011 to 2014 due to recession in the global economy.

The total FDI was expected to be higher by the end of this year, the agency forecast.

Now, 23 EU nations have invested in Vietnam with the number of existing projects at 1688 and total investment capital at $21 billion. The average investment is $12.6 million per project.

The biggest investors include the Netherlands, the UK, France, Luxembourg and Germany, who account for 82 per cent of the total FDI, according to the agency.

The EU's investment is mainly concentrated in large cities such as Ha Noi and HCM City as well as provinces and cities with oil and gas resources or large industrial zones including Binh Duong, Dong Nai, Ba Ria-Vung Tau, and Da Nang, in addition to Hai Phong, Khanh Hoa and Hai Duong. Large amounts of FDI were invested in Ha Noi and HCM City.

Regarding the investment sectors, the EU investors mainly put their money into the processing and manufacturing sector, with 573 projects and a total investment of $6.29 billion. Their other major investment sectors have included the power production and real estate sectors.

Outside the EU, Japan remained the largest source of foreign investment among 49 countries and territories that pumped FDI to Vietnam. Japanese investors registered to invest $4.29 billion, making up 53.4 per cent of total FDI.

Samoa surprisingly came second, pumping in $ 890 million or 11 per cent of total FDI. It was followed by South Korea with more than $ 600 million and Hong Kong with $ 492 million, the report said. (SH)

 

Fibre2Fashion News Desk – India

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