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Vietnam sees more FDI money than ever
Disbursement of foreign direct investment reached a record high following more inflows in August, the head of the Foreign Investment Agency said.
Phan Huu Thang told Thanh Nien Daily Wednesday that the disbursement figure for the first eight months had gone up to US$7 billion, including $1 billion this month alone.
The full-year amount is expected to reach $11-12 billion, he said.
The registered investment so far this year is $47 billion.
Last year the disbursement was around $4.6 billion on a commitment of $20.3 billion.
Thang explained that the country is unable to cope with huge disbursements because of its weak infrastructure and modest demand for capital.
At least 20 mega projects worth over $1 billion each were licensed in the industrial and infrastructure sectors, he said, but it would take them five years to acquire and pay compensation for land and design and build facilities before they can begin operations.
Thanhnien
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