Vietnam achieved optimistic results in drawing foreign direct investment (FDI) flows in the first six months of 2016, said the Foreign Investment Agency (FIA), the Ministry of Planning and Investment (MPI). In addition to luring both new and additional capital, disbursements by foreign investors impressively rose 15.1 per cent over the same period of 2015. Mr Dang Xuan Quang, FIA Deputy General Director, forecast that FDI disbursements would increase sharply from now to the end of this year and the target may be achieved, or even exceeded.

Positive results
Statistics of the FIA showed that foreign investors registered to invest US$7.497 billion in 1,145 new projects in the year to June 20, up 95.3 per cent from a year-ago period, and registered to add US$3.787 billion to 535 existing projects, up 129 per cent year on year. Thus, total registered FDI value grossed US$11.284 billion in the first 6 months 2016, up 105.4 per cent year on year.
Disbursements also improved from a year ago. In the reporting period, foreign investors disbursed US$7.25 billion, up 15.1 per cent on year. This impressive growth beat forecasts by many experts at the beginning of 2016. This proved that the investment environment and FDI support policies are on right track.
Processing and manufacturing industry took the biggest share of FDI flows. This sector attracted 488 new investment projects and saw 405 projects increase capital adjustment in the six-month period, tallying US$8.06 billion, accounting for 71.4 per cent of total registered FDI capital. Real estate sector came second with 25 projects licensed. The total new and additional capital for this sector amounted US$604.8 million, accounting for 5.3 per cent of the total. The scientific and technological followed up with US$562.3 million, accounting for 4.9 per cent of the total.
South Korea was the biggest foreign investor in Vietnam with US$3.99 billion, accounting for 35.37 per cent of the total. Electronics and real estate sectors received the biggest investment from South Korean investors. Japan was the runner-up with US$1,229 billion, accounting for 10.8 per cent of the total. Singapore ranked third with US$1.129 billion, accounting for 10 per cent.
 
Positive macroeconomic signs
Mr Quang said that the strong rise in FDI disbursements in the first six months of 2016 stemmed from many reasons. Firstly, many large-scale projects completed preparatory procedures and kicked off construction. Samsung Group of South Korea alone registered a total of US$10 billion of investment capital. Therefore, the South Korean firm disburses its investment capital as scheduled, the overall value will surely surge. Many other projects, licensed in earlier years, entered the so-called disbursement phase.
Secondly, Vietnam’s macro economy has been quite stable this year, driven by better economic performance, markedly improved investment and business climate. This created momentum and confidence for foreign investors to spend more.
Thirdly, the Government drastically created a comfortable environment for FDI. In the period, authorities actively assisted investors to deal with difficulties and obstacles. This inspired foreign investors to accelerate spending.
Apart from subjective reasons arising from investors and investment environment, there are still objective reasons with certain impact on FDI activities in Vietnam: Foreign investors want to prepare for economic opportunities when Vietnam joins new generation free trade agreements (FTAs).
Mr Quang forecast that given results in the first six months of 2016, FDI disbursement will rise 16-16.5 per cent in the year.

Luong Tuan

VCCI News

 

 

 

 

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