Foreign direct investment picks up nearly 41 percent
Total foreign direct investment (FDI) in Vietnam reached 11 billion USD from the outset of the year, a year-on-year surge of nearly 41 percent, said the Foreign Investment Agency.
An assemly line of Samsung Electronics Vietnam in northern Bac Ninh Province (Photo:VNA)
Hanoi (VNA) – Total foreign direct investment (FDI) in Vietnam reached11 billion USD from the outset of the year, a year-on-year surge of nearly 41percent, said the Foreign Investment Agency under the Ministry of Planning andInvestment (MPI).
More than 39,580 enterprises were set up in the first five months of the yearwith total registered capital of nearly 370 trillion VND (16.3 billion USD), up14 percent in number of newly-established businesses and 48.9 percent incapital year-on-year.
The MPI said that the business climate and competitive and business developmenthad improved.
Nearly 5 billion USD in FDI capital was disbursed in the period, 3.2 percenthigher than the same time last year. The Republic of Korea ranked first incapital disbursement, followed by Japan and Singapore.
The rapid increase of FDI in Vietnam was spurred by several large-scaleprojects approved in March. Notably, Samsung Display project got expansionapproval in Bac Ninh province with additional investment of 2.5 billion USD.This pushed FDI figures to 7.71 billion USD in the first quarter, double that ofthe first two months.
Other big projects getting cash included Taiwan Polytex Far Eastern (Vietnam)Company in Binh Duong province (485.8 million USD), Coca-Cola Vietnam in Hanoi(319.8 million additional capital), Vietnam-Singapore Industrial Park III(284.75 million USD), Tole Panel plant in Binh Phuoc province (269.5 millionUSD) and Kolon Industries Inc (220 million USD) in Binh Duong province.-VNA
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An assemly line of Samsung Electronics Vietnam in northern Bac Ninh Province (Photo:VNA) 
