Business

Vietnam attracts US$20 billion FDI in six months

SGGP
The country has attracted more than US$20 billion in foreign direct investment (FDI) in the first six month of this year, according to the Ministry of Planning and Investment at a conference on technology transfer in the FDI sector in Hanoi on June 25.

Manufacturing precision products in Saigon Precision Company Ltd. Misumi Group Inc

Manufacturing precision products in Saigon Precision Company Ltd. Misumi Group Inc

There were over 1,300 projects newly granted investment certificates, 507 projects registered to adjust investment capital, and 2,700 capital contributions and share purchases by foreign investors.
To date, the country has attracted nearly 26,000 projects with a registered capital of US$326 billion USD. Disbursement is estimated at 180 billion USD.
Over the past 30 years of foreign direct investment (FDI) attraction, the FDI sector has had an important role in the economic growth of the country, said Deputy Minister of Planning and Investment Nguyen The Phuong.
58 percent of foreign investments focus on processing and manufacturing, representing 50 percent of industrial production value.
The relationship between FDI and Vietnamese businesses have not been closely to boost the supporting industries of Vietnam. Technology transfer, management experience and contribution to the State budget did not meet the expectation.

By HA MY – Translated by Kim Khanh

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