Foreign investment falls 23.6 percent in first two months
The inflow of foreign investment into Vietnam experienced a year-on-year drop of 23.6 percent in the first two months of the year to 6.47 billion USD, according to a report from the Ministry of Industry and Trade’s Foreign Trade Agency.
The inflow of foreign investment into Vietnam experienced a year-on-year drop of 23.6 percent in the first two months of the year to 6.47 billion USD. (Photo: VNA)
Hanoi (VNA) – The inflow of foreign investment into Vietnamexperienced a year-on-year drop of 23.6 percent in the first two months of theyear to 6.47 billion USD, according to a report from the Ministry of Industryand Trade’s Foreign Trade Agency.
Disbursement of foreign capital declined 5 percent to2.45 billion USD in the period.
As many as 500 new projects received investmentlicenses, with total registered capital of 5 billion USD, doubling the amountrecorded the same time last year.
Singapore’s Delta Offshore Energy Pte Ltd Co was thelargest investor with its liquefied natural gas-fired (LNG) power plant valuedat 4 billion USD in the Mekong Delta province of Bac Lieu.
There were 151 projects registering to adjust their capital. Total additionalcapital fell nearly 25 percent to 638.1 million USD.
Capital contributions and share purchases by foreign investors fell substantiallyby 84 percent to 827.3 million USD.
From January-February, most foreign capital was injected into 18 sectors. Powerproduction attracted the largest amount of investment with 3.89 billion USD,followed by the processing and manufacturing sector (1.76 billion USD),wholesale and retail sales (195 million USD), and technology and science (180million USD).
Up to 73 countries and territories have invested in Vietnam in the first twomonths of 2020. The largest investors included Singapore (4.12 billion USD),China (720.4 million USD), and the Republic of Korea (425.4 million USD)./.
Vietnam will optimise external resources to spur national economy as the impact of the outbreak of acute respiratory disease caused by a new coronavirus (COVID-19) on foreign investment flows into the country is visible, according to the Ministry of Planning and Investment (MPI).
The People’s Committee of Bac Lieu province hopes the licence it granted to a Singapore company for a liquefied natural gas-fired (LNG) power plant in the province is going to be a significant factor in attracting further foreign direct investment (FDI).
Foreign investors still pay great attention to Vietnam albeit the complicated developments of the acute respiratory disease caused by SARS-CoV-2 which started to hit the world earlier this year.
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The inflow of foreign investment into Vietnam experienced a year-on-year drop of 23.6 percent in the first two months of the year to 6.47 billion USD. (Photo: VNA) 
