Binh Dinh Invest

Viet Nam brings in US$11.26 billion in FDI

29 October 2007

Viet Nam brought in US$11.26 billion in foreign direct investment (FDI) during the first ten months of 2007, a year-on-year increase of 36.4 percent.

According to a report by the Foreign Investment Department under the Ministry of Planning and Investment, 1,144 new projects brought in US$9.75 billion.

The Republic of Korea (RoK) topped the list of 50 foreign investors in Viet Nam with registered capital of US$2.44 billion, followed by the British Virgin Islands, with US$1.73 billion and Singapore, US$1.37 billion.

During the ten-month period, Japan pumped the largest amount of money, US$315.35 million, into its existing projects in Viet Nam, followed by Taiwan, US$312.58 million; RoK, US$239 million and Hong Kong, US$176.7 million.

According to a survey by the United Nations Conference on Trade and Development, Viet Nam ranks 6th among the top ten most attractive foreign direct investment destinations.

In October, the Italy’s Piaggio group invested US$45 million into a scooter factory in northern Vinh Phuc province, while Taiwanese Compal Electric Group poured US$500 million into a laptop factory in the province.

The country set a target of US$13 billion in FDI for 2007.

Source: : Vietnam Agency