Sign up | Log in



Home  >>   Daily News  >>   Vietnam News  >> Economy  >> FDI surges by 65.5 per cent
NEWS UPDATES Asean Affairs   28 October 2013  

FDI surges by 65.5 per cent

Vietnam has brought in US$19.2 billion in foreign direct investment (FDI) in the first 10 months of the year, a whopping 65.5 per cent more than last year's figure, according to the General Statistics Office (GSO).

The GSO said around 1,050 new projects had been licensed this year with a registered capital of $13.1 billion, up 79 per cent from the previous figure, with the remaining $6.1 billion in capital coming from existing projects.

Meanwhile, FDI disbursement in the January-October period only rose by 6.4 per cent from last year to $9.6 billion.

According to the GSO, FDI flows were mostly directed towards the processing and manufacturing industries, accounting for 77.6 per cent ($14.9 billion) of total registered capital.

Electricity production and distribution, and air conditioning made up 10.6 per cent with the remaining industries bringing in $2.3 billion.

In the same period, northern Thai Nguyen Province trounced other localities with $3.39 billion in registered capital, making up 26 per cent of the total FDI haul.

It was followed closely by central Binh Thuan on $2.03 billion, northern Hai Phong on $1.84 billion and central Binh Dinh on $1.09 billion.

The provinces with the lowest levels of FDI included HCM City on $844 million, northernHai Duong on $613 million and southern Binh Duong on $521 million.

South Korea became Viet Nam's largest FDI investor in the ten month period, accounting for 27 per cent ($3.58 billion) of investment.

Singapore was the second largest contributor with $2.72 billion, followed by China on $2.2 billion and Japan on $1.15 billion.

Russia was the fifth largest investing bringing in $1.01 billion.

More than 3,600 FDI businesses checked on tax duties.

Deputy minister of Finance Do Hoang Anh Tuan said the ministry had completed its review of more than 3,600 out of 9,200 FDI businesses operating in Viet Nam.

Tuan said the ministry had discovered 225 out of 300 enterprises conducting transfer pricing, adding that some firms even reported losses to avoid paying higher taxes.

He urged taxation departments to classify the risks of individual firms to provide suitable management.

The ministry has built a system of 460,000 licensed businesses in Viet Nam to oversea foreign entities.

Based on the system, tax agencies would enhance monitoring enterprises with abnormal indices in production and relocations of their registered address.

Around 10,000 businesses in the system showed signs of violating the tax code.

He said the ministry has asked the General Department of Taxation to mobilise an extra 15,000 people to investigate tax obligations and other duties at foreign businesses

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories   28 October 2013 Subsribe Now !
• Hoi An Hailed as Asia’s No. 2 Destination City in US Media Subcribe: Asean Affairs Global Magazine
• Singapore's manufacturing output rises 9.3% on-year in Sept Asean Affairs Premium
• Private residential property prices in S'pore rise 0.4% in Q3
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Opposition lists 100 amendments to Myanmar's constitution
• FDI surges by 65.5 per cent
• Myanmar suffers trade deficit in first half of FY 2013-14
Asean Analysis          28 October  2013 Advertise Your Brand
• Asean Analysis- October 28, 2013
The future of Laos
Asean Stock Watch     25 October  2013
• The Biweekly Update 18 October 13 • Asean Stock Watch-October 25

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2017 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand