The Foreign Investment Agency Foreign on March 11 released a report revising the figure of foreign direct investment (FDI) in 2012, saying FDI pledged in the country rose by 4.7 percent to 16.3 billion USD in the year. Earlier in December, the agency, under the Ministry of Planning and Investment, announced that the country had attracted 12.7 billion USD in FDI for the year, down by 18 percent year-on-year due to the global economic slowdown. The new report showed up to 1,287 new foreign-invested projects were granted licences with a total registered capital of 8.6 billion USD in 2012 or equivalent to 71.2 percent of the total figure. The reviewed period also saw a slight decrease of 4.9 percent in FDI disbursement, reaching 10.46 billion USD. As many as 550 operating projects were allowed to increase their levels of capital by 7.7 billion USD, over doubling the figure of the previous year. The manufacturing and processing sectors attracted the lion's share of FDI, reaching 11.7 … [Read more...] about Foreign Investment Agency revises 2012 FDI figure
The General Statistics Office (GSO) announced that Vietnam witnessed a trade surplus of 2.45 billion USD in the first eight months of this year. The eight-month trade surplus was totally contributed by the foreign-invested sector, which posted an export surplus of 15.18 billion USD, while the domestic sector saw a deficit of 12.73 billion USD, according to the GSO. In January-August, Vietnam’s trade revenue topped 221.93 billion USD. Of the sum, exports contributed 112.19 billion USD, rising 5.5% against same period last year. The growth was, however, equal to two thirds of the target set earlier by the State, the GSO revealed. Export revenue of the domestic sector reached 32.62 billion USD, up 4% year-on-year, while that of the foreign-invested sector stood at 79.57 billion USD, up 6.1% year-on-year. Among the key export items recording significant turnover increases were mobile phones and components (22.3 billion USD, up 11%), garments and textiles (15.5 billion USD, up 4.2%), … [Read more...] about Export revenue of foreign-invested sector increases 6.1% after 8 months – News – Investment
Scores of foreign invested enterprises in the textile and garment sector are looking to expand their presence in Vietnam. In late April or early May, Venture International JSC from the Netherlands plans to start construction on a new factory in the central province of Nghe An. The $10 million factory has a designed production capacity of 150,000-210,000 jackets and two million shirts a year and would provide jobs to about 1,000 workers. Venture dropped anchor in Vietnam back in 2007 with a garment factory in Hai Duong province that similarly employed around 1,000. The plant’s production line (protective clothing, fire-proof coats and specialised uniforms) are exported to Europe and generate tens of millions of dollars a year. The company’s director John Somers attributed rising customer demands to Venture’s planned factory in Nghe An. Venture is not the only company with big expansion plans. In Dong Nam Industrial Park in Ho Chi Minh City, two FDI projects … [Read more...] about Foreign-invested garment firms show ambitious growth
Phu Yen rakes in foreign investment (29-11-2007) Cargo is unloaded from ships at Vung Ro Port in the central province of Phu Yen. The province has nearly $13 billion in FDI registered so far this year. — VNA/VNS Photo The Lap Phu Yen— The central coastal province of Phu Yen has nearly US$13 billion in foreign direct investment (FDI) registered in 2007, according to the province’s department of planning and investment. After holding a conference on its investment potential in Singapore, provincial authorities welcomed 22 foreign business delegations who came seeking investment opportunities. The SP Chemical Company of Singapore is the largest Phu Yen investor, having committed $11 billion for a project to build facilities for the Naphtha Cracking Hoa Tam Petrochemical Industrial Complex in Dong Hoa District. The UK’s Technostar Management Ltd and Telloil of Russia have teamed up to construct the Vung Ro Oil Refinery Plant, capitalised at $1.7 billion and … [Read more...] about Phu Yen rakes in foreign investment
According to the announcement of the regular meeting in May of Government, Dong Nai is ranked 2nd among 31 provinces in country to attract foreign investment in the first five months of the year, making up of 16.4% of the total national registered capital. The first rank is Ha Noi capital city, making up of 50.1% and the third rank is Ho Chi Minh City, making up of 9.6%. This morning, June 1st, a foreign invested company has officially come into operation in Dong Nai. It is the Akzo Nobel Paint Company of Dutch Akzo Nobel Group, a leading group in paint industry. Mr. Vo Van Mot, chairman of Dong Nai People's Committee had attended the its inauguration ceremony. Akzo Nobel is a global group and operates in over 80 countries in the world. Its main product are paint, coating substance, chemical and medicine. It is famous for its Levis paint invented in 1831 in Belgium. This product came into Viet Nam market in 1938. The decorated paint company of Akzo Nobel group in Amata industrial … [Read more...] about Dong Nai is the runner-up in attracting foreign investment in the first five months of the year.