More money added to FDI projects

Tuesday, Mar 01, 2022 08:22

Workers at a Samsung factory in Viet Nam. The company poured an additional $920 million into its electro-mechanics plant in Thai Nguyen Province in February. — Photo

Several major foreign direct investments (FDI) projects increased their investment capital by hundreds of millions of US dollars in the first two months of 2022, according to the Foreign Investment Agency.

Notably, the VSIP urban construction project in Bac Ninh Province added nearly US$941 million to its capital during the period.

Samsung's electro-mechanics project in Thai Nguyen followed suit with an additional investment of $920 million.

A project manufacturing electronic, internet and multimedia equipment (invested by Hong Kong investors) had its capital adjusted by around $306 million.

JNTC electronic component manufacturing project in Phu Tho also registered for capital adjustment with an additional $163 million.

In total, additional registered capital in 142 projects hit $3.6 billion.

The agency also reported that total newly registered, adjusted, and paid-in capital for share purchase by foreign investors reached approximately $5 billion by February 20.

The number of newly registered projects stayed at 183, amounting to $631.8 million, up 45.2 per cent year-on-year.

Among 51 countries and territories investing in Viet Nam in the two months, Singapore led the list with total investments of $1.7 billion, accounting for 34.2 per cent of total FDI to the country.

Korea came next with over $1.4 billion, representing 28.2 per cent. China ranked third with $538 million (15.3 per cent) and was followed by Hong Kong, Japan and Thailand.

Regarding FDI attractiveness, Bac Ninh Province came out on top with total registered investments of over $1.3 billion.

Thai Nguyen, despite no newly registered projects, came second with total additional investments of $924 million.

It is also worth noting that HCM City took the lead in the number of new projects (38.5 per cent), adjusted projects (13.4 per cent) and paid-in capital for share purchase (67.3 per cent).

By February 20, Viet Nam had a total of 34,700 valid projects with total capital of over $418.8 billion.

Total accumulated realised capital was estimated at $254.3 billion, equivalent to 60.7 per cent of total valid registered capital. — VNS

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