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Vietnam’s foreign capital sees double-digit spike in 2015

Thursday, December 31, 2015, 18:31 GMT+7
Vietnam’s foreign capital sees double-digit spike in 2015

Double-digit growth has been forecast for both committed and disbursed foreign direct investment (FDI) by the end of 2015, according to new figures released by the General Statistics Office.

Total newly-registered and additional FDI in Vietnam has reached US$22.76 billion so far this year, up 12.5 percent ​​compared with 2014, the GSO said.

As of December 15, the Southeast Asian country had attracted 2,013 FDI projects with a combined registered capital of $15.58 billion, a 26.8 percent rise in terms of volume but down 0.4 percent in value against the same period last year.

Meanwhile, disbursed FDI is estimated to be $14.5 billion, up 17.4 percent over the previous year.

Processing and manufacturing are the largest contributors with investment totaling $15.23 billion, accounting for 66.9 percent of the registered capital.

They are followed by electricity and gas with $2.81 billion (12.4 percent), real estate with $2.39 billion (10.5 percent), and other industries with $2.32 billion (10.2 percent).

Ho Chi Minh City takes the lead among 48 localities in attracting new FDI, with a registered capital of $2.81 billion, making up 18 percent of the total.

The southern economic hub is followed by the southern province of Tra Vinh with $2.52 billion (16.2 percent), the southern province of Binh Duong with $2.46 billion (15.8 percent), and its neighbor Dong Nai Province with $1.47 billion (9.4 percent).

Of the 58 countries and territories that have carried out new investment projects in Vietnam this year, South Korea is the biggest with $2.68 billion, accounting for 17.2 percent of the total newly-registered capital.

Followers are Malaysia with $2.45 billion (15.7 percent), Japan with $1.28 billion (8.2 percent), the United Kingdom with $1.26 billion (8.1 percent), and Singapore with $1.03 billion (6.6 percent).

Earlier this month, Minister of Planning and Investment Bui Quang Vinh told Bloomberg that FDI disbursement would reach about $14 billion by the end of the year, an annual surge of 12 percent.

Bloomberg quoted Minister Vinh as saying that total capital commitments in 2015 are also forecast to be higher than the previous year's figure of $21.9 billion.

“Our improving investment environment and trade agreements help attract more companies to move from China and other regional countries to Vietnam,” Vinh told Bloomberg.

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