FDI capital flows in first half set new record

The Foreign Direct Investment (FDI) capital flows into Viet Nam set a new record of US$19.2 billion in the first half of the year, a year-on-year increase of 50%.

Over the recent six months of the year, as many as 1,183 investment projects were licensed with a total registered capital of US$11.83 billion.

A total number of 549 projects increased their capital of US$5.14 billion and 2,501 ones contributed and purchased shares of the foreign investors to US$2.24 billion, seeing a year-on-year increase of 97.6%.

The FDI realization was estimated at US$7.7 billion, up 6.5%.

Despite the U.S' withdrawal from the Trans-Pacific Partnership Agreement, Viet Nam's business and investment environment is still attractive to foreigners, experts said.

With 12 new free trade agreements and Viet Nam's participation in the ASEAN Economic Community, it creates an opportunity for Viet Nam to connect to the market of more than 600 million people, said Head of the Foreign Investment Agency under the Ministry of Planning and Investment Do Nhat Hoang.

The institution, laws and transparency of Viet Nam have been completed, facilitating foreign investors to launch long-term investment and helping businesses join the global value chain, he added.

The processing and manufacturing industry took the lead in attracting the FDI with 11,833 projects, worth more than US$175 billion, accounting for 51.6% of the number of projects and 58.9% of the registered capital.

Source: Online Newspaper of the Government of the Socialist Republic of Vietnam