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MPI ‘finds’ additional $7 billion in FDI registered capital
The Ministry of Planning and Investment (MPI) has released official figures about foreign direct investment (FDI) in 2008. The total foreign direct investment (FDI) in the year was $7 billion higher than the figure released in last year’s report.
The newly released report gives figures which are quite different from those released late last year.
MPI has said that 1,557 new projects were licenced in 2008 with the total registered capital of nearly $66.5 billion. Meanwhile, the figures in last year’s report were 1,171 projects and $60.271 billion.
As such, 386 projects were not counted in last year’s report.
The ministry has also confirmed that last year, 397 operational projects got licences to increase capital with the total additional capital of $5.226 billion, instead of 3.74 billion as previously reported.
As such, the total registered capital of FDI projects in 2008 was $71.726 billion (the previous figure was $64.011 billion) from 1,954 projects, both newly registered projects and operational projects which increased investment capital.
The updated report showed that the FDI capital disbursed in 2008 reached nearly $11.728 billion (the previous figure was $11.5 billion). Of this amount, the total capital transferred from foreign countries to Vietnam was $9.579 billion.
Explaining the differences in the figures in the reports, Phan Huu Thang, Head of the Foreign Investment Agency under MPI, said that it was because many local authorities had not sent FDI reports when the agency made the report last year.
Thang added that many localities have not obeyed procedures on making reports to the agency since the decentralisation mechanism was applied.
This has been a recurring problem for years. In 2007, the figure about FDI disbursement was raised from $4.6 billion to $8 billion for the same reason.
VietNamNet, TBKTVN
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