The disbursement of foreign direct investment (FDI) in Vietnam reached around $1 billion in the first 2 months of this year, down over 9 percent year on year. The total pledged and expanded FDI during the same time went down 50 percent year on year to $1.23 billion. As of February 20, there were 65 newly licensed FDI projects with registered capital worth $910.9 million, plummeting 55 percent over last year. There were 25 operational FDI projects increasing their capital by $320 million, down 52 percent year on year. Thus, the total newly pledged and raised FDI capital in the first two months of this year was $1.23 billion, down 54.5 percent from a year earlier. In the period, the processing and manufacturing sector drew foreign investors' attention the most, with 26 new projects. The total new investment and newly added capital reached $994.29 million, accounting for 80.8 percent of the total FDI capital. The transportation and logistics sector ranked second with $180 million … [Read more...] about FDI disbursement reaches $1 bln in Jan-Feb
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FDI firms less optimistic despite revenue rise
FDI firms less optimistic despite revenue rise By Tu Hoang - The Saigon Times Daily HANOI – Foreign direct investment (FDI) enterprises have become less optimistic about their business outlook in Vietnam though their revenues still continue growing, according to a survey of 1,970 foreign-invested firms. The survey, which provides inputs for the provincial competitiveness index (PCI) 2011, was conducted among businesses operating in five sectors namely manufacturing, construction, services, agriculture and mining. Jim Winkler, project director of USAID/VNCI, the sponsor of the PCI 2011 report, said the revenue of FDI enterprises averaged out at US$1.3 million last year, surging US$300,000 versus 2010. The return on investment increased from 11% in 2010 to 22% last year. However, most of the FDI enterprises surveyed showed a less optimistic view about the business outlook for the next two years. Only 39% of the respondents said they are optimistic about their business outlook, … [Read more...] about FDI firms less optimistic despite revenue rise
Inflation hits FDI company bonuses
Foreign direct investment (FDI) enterprises' Lunar New Year (Tet) holiday bonuses in Ha Noi this year decreased due to price fluctuations and inflation, Le Tuan Huu, deputy director of the Ha Noi Department of Labour, Invalids and Social Affairs has said. The highest bonus is nearly VND60 million ($2,860) and the lowest is VND200,000 ($9.5) whereas last year the highest bonus reached VND72.7 million ($3,460) and the lowest VND500,000 ($23). The average bonus of FDI enterprises this year is VND4.2 million ($200). Huu said this year the Government increased the minimum wage of workers by 39.1 per cent in the FDI enterprise sector. With the minimum wage increase, the average income for workers in FDI enterprises is more than VND4 million ($190) per person, per month. Meanwhile, the highest holiday bonus offered by a private enterprise in the city is VND67.3 million ($3,200) and the lowest is VND450,000 ($21). The average bonus for the Tet holiday in state-owned enterprises is … [Read more...] about Inflation hits FDI company bonuses
Ministry reserved on FDI targets
HCMC - The Ministry of Planning and Investment has turned more reserved towards foreign direct investment targets this year, aiming for only US$15-16 billion in new project attraction and some US$10-11 billion in disbursement. The FDI disbursement target set for this year is equivalent to the result in 2011, worth US$11 billion, announced by the planning ministry last Friday. Though this result fails to meet the initial goal of US$11.5 billion, it is still deemed a success given the global and local economic woes last year, said the Foreign Investment Department under the planning ministry. The planning ministry will not lay strong emphasis on fresh capital registration in 2012, as it already failed to woo foreign investors last year with only US$14.7 billion committed, equal to 74% of the figure in 2010 and far behind the year's target of US$20 billion. This year, the ministry will be more focused on FDI disbursement. In addition, the ministry will focus on granting … [Read more...] about Ministry reserved on FDI targets
Manufacturing takes bulk of FDI inflows
Manufacturing takes bulk of FDI inflowsBy Quoc Hung - The Saigon Times DailyLatest figures of the HCMC’s Department of Planning and Investment showed US$2.85 billion had been committed in the year to date, up 22.6% year-on-year, with over US$2.4 billion sourced from 397 fresh projects, up by 28% in value, and the remainder from 131 existing projects. While the nation has seen a slide in new FDI with the year’s US$20-billion goal seen as unattainable, the FDI picture in HCMC is encouraging, buoyed by large projects including the US1-billion thin-film solar power project of First Solar in Cu Chi District.Thanks to this project, the city’s manufacturing and processing industries takes the leading position in terms of fresh FDI capital with US$1.13 billion, 47% of the total newly-registered capital. Still, the projects in these industries only account for 13% of the 50 projects.However, the First Solar project was indefinitely postponed last month and the company cited an … [Read more...] about Manufacturing takes bulk of FDI inflows