Vietnam disburses US$950 million of FDI in October

Vietnam disbursed US$950 million of FDI in October, higher than the average level of US$900 million in the past 10 months, according to the Foreign Investment Agency of the Planning and Investment Ministry. During October, 39 projects worth US$184 million were licensed while 57 valid projects registered a combined additional capital of US$420 million. According to the agency, Vietnam is striving to fulfill its yearly target for FDI attraction of US$22-25 billion after attracting 969 FDI projects with a combined registered capital of US$12.8 billion in the first 10 months of 2010, a year-on-year decrease of 41.9 percent. In the review period, processing and manufacturing industries topped FDI attraction sectors with registered capital of US$4.065 billion, followed by production and electricity distribution with US$US$2.943 billion USD and real estate with US$2.854 billion. The Netherlands topped 50 foreign countries and territories investing in Vietnam, registering US$2.227 billion. It was followed by the Republic of Korea, the US and Japan. The southern coastal province of Ba Ria-Vung Tau was the country’s largest FDI attractor of US$2.37 billion. The northern province of Quang Ninh ranked second with US$2.2 billion and Ho Chi Minh City came third with over US$1.8 billion.