More funds injected into operational FDI projects
Meanwhile, there have been 86 project owners raising their capital by $732 million in October, the highest monthly figure since the year’s beginning. Overall, there have been 861 new projects licensed in the January-October period with the combined pledged capital of $8.88 billion, equal to 70 percent of that in the same period last year.
Also, capital increase is recorded in 264 projects in the period with the total amount added being $2.4 billion, or rising 38 percent year-on-year.
Speaking to the Daily at a promotion conference in HCM City last week, Dang Huy Dong, deputy minister of Planning and Investment, said the ministry cares more about the project quality and progress rather than the amount of registered capital.
However, given the current global economic uncertainties, the fact that many FDI enterprises keep raising investment capital in Vietnam indicates their upbeat view about the local investment environment. Their confidence in investment opportunities in Vietnam will help attract new investors, Dong added.
In line with the capital increase, FDI disbursements in the first ten months of the year are worth $9.1 billion, rising 1 percent over the same period last year.
Still, the FDI capital registered in ten months, including both fresh investments and increased amount, totalled $11.27 billion, equivalent to 78 percent of last year. Therefore, the target to attract $20 billion in FDI capital for this year is hard to achieve.
According to the Foreign Investment Agency, in the year to date, the processing industry attracted the most FDI capital worth $5.63 billion, or almost a half of the total, while areas like the distribution of power, gas and water ranked second, followed by construction and property sectors.
