Vietnam attracts US$12.63 billion FDI in eight months

(VOV) -Vietnam’s foreign investment capital over the past eight months totalled US$12.63 billion, an increase of 19.5% on 2012.

The Foreign Investment Agency (FIA) reports that as of August 20, almost 770 new projects were licensed representing registered capital of over US$7.4 billion, a year-on-year increase of 12.2%.

As many as 296 projects contributed an additional US$5.22 billion in capital, 31.7% higher than the previous period.

FIA says foreign investment was funneled into 18 industries, of which processing and manufacturing took the lead with 370 newly registered projects worth US$10.817 billion, accounting for 85% of total foreign investment capital.

The real estate sector ranked second with its more than US$588 million representing 4.7% of total foreign investment capital.

Japan is the largest of Vietnam’s 47 foreign investors with US$4.35 billion (34.5% of the total), followed by Singapore (US$3.78 billion, 29.9%) and Russia (US$1 billion, 8,1%).

Foreign businesses have invested in 50 cities and provinces across the country, not including offshore oil projects.

Foreign businesses have invested in 50 cities and provinces across the country, not including offshore oil projects.

With an additional US$2.8 billion in investment for the Nghi Son oil refinery, the central province of Thanh Hoa received the largest proportion of Vietnam’s total foreign investment capital (23.3% or US$2.815 billion).

Thai Nguyen province claimed the second largest (US$2.185 billion), while third went to Bac Ninh province (US$1.39 billion).

Foreign Direct Investment (FDI) projects have disbursed US$7.560 billion over the past eight months, up 3.8% on 2012.

The FDI sector’s export earnings surged 21.7% on last year’s levels to beyond US$7.560 billion, 66.1% of Vietnam’s total export revenue.

It imported US$48.297 billion worth of goods, again representing 66.1% of the national total, and up 25.1% on 2012.

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