ASEAN KEY DESTINATIONS
Report revises 2014 FDI figures
Vietnam:Foreign direct investment (FDI) in the country decreased by 1.9 per cent on the year to US$21.92 billion in 2014, according to the Foreign Investment Agency's revised report.
Earlier in December, the agency announced that the country had attracted $20.23 billion in FDI for the year, down 6.5 per cent. But the newer figure, calculated as of December 15, reflected less of a fall.
According to the report released late last week, about 1,843 new foreign-invested projects received investment licences by the end of 2014, with a total registered capital of $16.5 billion - 14 per cent higher than the previous year's figure.
Four of these projects had investment capital of more than $1 billion, equivalent to 30.5 per cent of the total FDI pledged in the country. The endeavours include a $3 billion expansion of Samsung Electronics Viet Nam Complex in the northern province of Thai Nguyen, a $1.4-billion Samsung CE Complex project developed by Samsung Asia Pte in HCM City and Dewan International's $1.25-billion beach resort in Nha Trang.
Meanwhile, 749 operating projects were allowed to raise their capital by $5.41 billion, or 68.8 per cent of the figure seen in 2013.
During the reviewed period FDI disbursement also followed a positive trend, with an 8.7-per-cent rise over the previous year to $12.5 billion.
Foreign investors last year pumped investment into 18 different sectors. Of these, the manufacturing and processing sector attracted the largest share of FDI with $15.5 billion or 70.7 per cent of the nation's total FDI. It was followed by real estate trading with $2.83 billion and the construction sector with $1.08 billion.
Among the 63 countries and territories investing in Viet Nam, South Korea took the lead with $7.7 billion, accounting for 35.1 per cent of total FDI registered in the country. Hong Kong came second with $3.03 billion or 13.9 per cent, while Singapore ranked third with $2.89 billion or 13.2 per cent.
The report said the northern province of Thai Nguyen was considered the most attractive destination by foreign investors in 2014. It drew $3.35 billion in investments, or 15.3 per cent of the country's total FDI. HCM City and the southern province of Dong Nai came second and third, with $3.26 billion or 14.9 per cent and $1.83 billion or 8.4 per cent, respectively.
During the January-December period, the foreign-invested sector earned $101.21 billion from exports, a yearly increase of 14.8 per cent or equivalent to 67.4 per cent of the country's total export value. Its imports topped $84.19 billion, up 13.1 per cent. That meant the sector recorded a trade surplus of $17.02 billion.
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