return icon Vietnamnet.vn

$4 billion LNG project helps Bac Lieu lead in FDI attraction

Bac Lieu ranked first among 63 provinces and cities in term of foreign direct investment attraction in the first nine months of this year, with projects including an LNG-to-power project worth US$4 billion from Singapore.

 

A view of HCM City which is among leading provinces and cities in term of FDI attraction in the first nine months of this year. — VNA/VNS Photo Quang Nhut

This project alone accounted for 18.8 per cent of total registered FDI in Viet Nam in January-September.

The latest update from the FIA showed foreign investors registered to pour a total of $21.2 billion in Viet Nam from the beginning of this year to September 20, equivalent to 81.1 per cent of the same period last year.

Of the figure, $13.76 billion was disbursed, 96.8 per cent of the same period last year.

Although there were some drops in registred and disbursed capital in the period, Viet Nam’s FDI attraction results were positive amid a sharp decline in global investment due to the impact of the COVID-19 pandemic, the FIA said.

There were 1,947 FDI projects with a total registered capital of $10.36 billion, 29.4 per cent and 5.6 per cent lower than the same period last year, respectively.

Nealy 800 projects registered to increase their capital to the tune of $5.11 billion, 23 per cent lower in terms of the number of projects but 6.8 per cent higher in additional capital.

Foreign investors also spent $5.73 billion on buying stakes, 55.1 per cent of the same period last year.

According to the Ministry of Planning and Investment, FDI flowed into 18 sectors, among which, the processing and manufacturing industry led in FDI attraction with a value of nearly $9.9 billion.

Power generation and distribution ranked second with a total investment of $4.3 billion, followed by real estate with $3.2 billion FDI and wholesale and retail sales with $1.3 billion.

The statistics showed that 111 countries and territories invested in Viet Nam in January-September. Singapore was the largest investor with total registered capital of $6.77 billion, followed by South Korea with $3.17 billion and China with $1.87 billion.

In terms of the number of new FDI projects, South Korea ranked first with 499 projects. China was second with 271 projects, Japan third with 209 and Singapore fourth with 173.

In the first nine months of this year, foreign investors invested in 60 out of 63 provinces and cities in Viet Nam.

With the Singapore-invested $4 billion LNG-to-power project, Bac Lieu became the leading locality in FDI attraction.

Other leading destinations included HCM City with $3.25 billion worth of registered FDI and 719 projects and Ha Noi with $2.92 billion investment and 409 projects.

In June, a working group was founded to promote foreign investment and attract quality and high-tech FDI flow and capture the opportunities from the global production shift. — VNS

Vietnam urged to improve infrastructure to attract more FDI

Vietnam urged to improve infrastructure to attract more FDI

Vietnam needed to improve its infrastructure in order to attract more FDI, a webinar heard on Monday.

MORE NEWS

27 senior Party members disciplined in H1/2022

The Party Central Executive Committee, the Politburo, the Secretariat, and the Central Commission for Inspection disciplined 27 officials managed by the Politburo and the Secretariat in the first six months of 2022, 20 cases up year on year.

Hanoi to inspect fire prevention at all karaoke parlors

Half a month after the karaoke parlor fire in Cau Giay District, the Hanoi People's Committee has asked districts to inspect all karaoke parlors and bars and handle violations.

Vietnam needs extra US$368 billion to achieve net zero emissions

As the energy industry has a crucial role in achieving net zero emissions by 2050, it requires a structural transition toward green growth. Therefore, Vietnam needs assistance from developed countries regarding both financial and technical issues.

Labor Minister proposes harsh punishment for child offenders

Minister of Labor, War Invalids and Social Affairs Dao Ngoc Dung signed an official letter requesting to have harsh punishment for child offenders and strengthening measures to prevent violence against children.

Pu Sam Cap Cave: the hidden charm of Lai Chau

Pu Sam Cap Cave in Pu Sam Cap Commune, Sin Ho District, in the northwestern province of Lai Chau, is known for its wild, beautiful and mysterious beauty.

Hanoi’s three largest parks are seriously degraded

Many public works in the parks of Thu Le, Bach Thao, and Thong Nhat in Hanoi are in disrepair, affecting urban beauty and public experiences.

Why are thousands of public employees taking private-sector jobs?

Many public employees have recently quit their jobs and taken a job in the private sector. This indicates that the public sector is not attractive and that many problems need to be addressed.

Kon Tum Province records 300 earthquakes over a year

The Central Highland province of Kon Tum has recorded more than 300 earthquakes since April 2021, according to the provincial administration.

Highly-infectious BA.2.74 Omicron sub-variant detected in Vietnam

Vietnam has detected a number of new, highly-contagious Omicron sub-variants, including BA.2.74, said the General Department of Preventive Medicine on August 17.

Relaxing visa policy to attract more foreign tourists to Vietnam: insiders

Vietnam’s visa policy should be more open to lure international tourists, insiders have said.

Vietnam Airlines resumes, increases frequency of several flights in September

The national flag carrier Vietnam Airlines will resume flights connecting the central city of Da Nang with Malaysia’s Kuala Lumpur and Thailand’s Bangkok from September 1 and September 15, respectively, the carrier has announced.

Da Lat listed among world’s best places for binge-worthy dating

Booking.com has named Vietnam's Da Lat city among the world's six places for the summer’s binge-worthy dating shows.

Quang Ninh refutes allegations of sea encroachment in Ha Long Bay

The authorities of Quang Ninh province has refuted information that it has allowed a project to conduct sea encroachment and subdivide land plots for sale, which seriously undermined the conservation of the UNESCO-recognised Ha Long Bay.

VN extends time of anti-dumping investigation on tables, chairs from Malaysia, China

The Ministry of Industry and Trade (MoIT) has decided to extend time limit of investigation on applying anti-dumping measures on table and chair products originating from Malaysia and China by six months.

EVFTA and UKVFTA: the same sweet spot

With many similarities, the UK- Vietnam Free Trade Agreement (UKVFTA) could be called a direct copy of the EU- Vietnam Free Trade Agreement (EVFTA).
back_to_top