Vietnam - Vietnam Jan’s FDI attraction plunges 98 pct y-o-y

In January, Vietnam managed to attract foreign-direct investment (FDI) worth $37.3 million, which is only 2.5 per cent of the figure recorded at this time last year, according to the Ministry of Planning and Investment.

During the first month of the year, 25 fresh projects were licenced with a total registered capital of $29.5 million, accounting for 33.8 per cent of the total figure. Meanwhile, five licenced projects saw their investments increase by $7.8 million.

FDI disbursement in January was worth $400 million, a 4.8-per cent decline against the same period last year.

The manufacturing and processing industry attracted the highest amount of FDI with $26.8 million, followed by the construction sector with $8.4 million.

Ho Chi Minh City topped the list of localities which attracted the highest registered capital -- $13 million, or 44.2 per cent of the total figure. It was followed by Thanh Hoa, Ha Nam, and Hung Yen, all in the northern region.

Meanwhile, France was the largest foreign investor in Vietnam, with investment influx worth $10 million, or 34 per cent of the total, followed by Japan, Korea, and Singapore.

Last year the Ministry of Planning and Investment set the goal of attracting $16 billion worth of FDI, and $12-billion disbursement in 2012.

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