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FDI disbursement hits record high

Hanoi (VNA) – Vietnam-based foreign direct investment (FDI) businesses have so far this year disbursed a record sum of 5 billion USD, a year-on-year increase of 37.6 percent.

During the period, the country absorbed more than 31.6 billion USD worth of FDI, tripling that of the corresponding period last year, according to the Foreign Investment Department under the Ministry of Planning and Investment.

The figure marks the country’s record in FDI attraction so far.

The country licensed 487 projects totalling more than 30.9 billion USD over the past six months while permitting 158 others to increase their registered capital by 661.2 million USD.

Projects of note include nearly 7.9 billion USD Hung Nghiep Formosa steel plant in central Ha Tinh province, 6.2 billion USD Nghi Son oil refinery and a 4.23 billion USD tourism complex in southern Ba Ria-Vung Tau province, which will house convalescence centres, five-star hotels, commercial centres and international conference halls.

During the six-month period, Taiwan became the top partner of Vietnam among 31 countries and territories investing in the country with 64 projects worth close to 8.2 billion USD, accounting for 26.4 percent of the total registered capital. It was followed by Japan with 47 projects valued at more than 7.1 billion USD and Canada with 3 projects worth over 4.2 billion USD.

According to the Foreign Investment Department, the new record made by Vietnam in FDI attraction demonstrated foreign investors’ trust in the country’s investment environment in spite of its spiraling inflation, price fluctuation and construction materials price hike.

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