Vietnam's FDI attraction down in first ten months

22:21, October 26, 2010      

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Vietnam is expected to attract foreign direct investment (FDI) of 12.79 billion U.S. dollars in the first ten months this year, down 41.9 percent year-on-year, said a report by Vietnam's Ministry of Planning and Investment on Tuesday.

In the first ten months, the registered capital of 759 newly- licensed projects was 11.59 billion U.S dollars, down 19.1 percent in project number and down 28.8 percent in value year-on-year, said the report.

The country is expected to lure 1.2 billion U.S. dollars from 210 existing projects in the first ten months.

FDI disbursement so far this year is expected to reach nine billion U.S. dollars, an increase of 7.1 percent year-on-year, said the report.

FDI capital is believed to be the main factor which helps reduce Vietnam's balance of payment deficit, said the report.

However, the ministry said Vietnam is having difficulty reaching its target of 22 to 25 billion U.S. dollars for FDI attraction this year.

In the first ten months, major foreign investors for Vietnam's FDI projects include the Netherlands, the Republic of Korea and the United States.

The Netherlands topped Vietnam's biggest FDI investors in the first ten months with the registered capital of 2.23 billion U.S dollars.

The Netherlands was followed by the Republic of Korea and the United States with the registered capital of 2.14 and 1.92 billion U.S. dollars respectively.

In 2009, Vietnam saw a big decline of 70 percent year-on-year in FDI attraction to 21.48 billion U.S. dollars. The country disbursed ten billion U.S. dollars of FDI last year, down 13 percent year-on-year, said the ministry.

Source:Xinhua

(Editor:黄蓓蓓)

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