VietNamNet Bridge – Foreign direct investment (FDI) attraction in the January-September period has exceeded the year’s target and amounted to over US$15 billion, with a large amount seen flowing into science and technology.

Compared to processing and manufacturing industries, investments poured into science and technology in the nine-month period is much lower. However, investment attraction and new projects of the sector is on the rise, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Science-technology ranks third among the sectors attracting the largest amounts of FDI in the nine-month period with 116 new projects having total registered capital of over US$380 million, much higher compared to nearly US$99 million recorded in the whole 2012.

Besides, the amount of FDI poured into science and technology in the period accounted for around one-third of the total amount pledged in the sector in 25 years of attracting FDI (US$1.1 billion).

According to the Foreign Investment Agency, processing and manufacturing still take the lead in FDI attraction in the January-September period with nearly US$7.6 billion of new registered capital and US$5.37 billion of additional capital. The second position belongs to property with over US$587 million.

Vietnam attracts around US$2.3 billion in September, three times higher than August’s total registered and additional capital.

FDI attraction is forecast to keep rising in the coming time as several large-scale projects are waiting in the wings, especially Samsung Electro-Mechanics that is awaiting a license for an electronic component plant worth US$1.2 billion in Samsung Thai Nguyen Hi-tech Complex. The project aims to provide components for the hi-tech complex where cellphones, smartphones and tablets are produced.

Realized FDI capital in the January-September period reaches around US$8.62 billion, up 6.4% year-on-year and the target of US$10.5-11 billion is obtainable.

Source: SGT