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Vietnam attracts USD6 Bln FDI in first quarter, down 40 per cent on-year

26/03/2009

Vietnam is estimated to have attracted over USD6 billion of FDI in the first quarter of this year, down 40 per cent on year, according to the Ministry of Planning and Investment (MPI).

Vietnam is estimated to have attracted over USD6 billion of FDI in the first quarter of this year, down 40 per cent on year, according to the Ministry of Planning and Investment (MPI).

In the first three months, Vietnam licensed 93 new FDI projects worth roughly USD2.2 billion, down 52 per cent in project number and 56 per cent in capital value on-year respectively.

The country also allowed 34 existing projects to raise their capital by USD3.84 billion in the phase, down 61 per cent in project number but up 43 per cent in capital value compared to the correspondent period of 2008.

The ministry attributed a sharp drop in FDI attraction to the global economic downturn, forecasting that outlook will be brighter in the upcoming time.

The MPI is urging cities and provinces nationwide to keep close watch on their FDI projects, said Head of the MPI’s Foreign Investment Department Phan Huu Thang.

Source: VCCI news

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