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FDI disbursements make gigantic leaps
A big leap has been made in disbursement of foreign direct investment (FDI), with figures reaching the record level of $1.4 billion in March 2010.
The report on FDI in the first three months of 2010 showed that the newly registered FDI capital only increased by $358 million in March, while the disbursement rate has reached record levels of $1.4 billion, as disbursement rates far exceed FDI registered capital.
In March, 51 projects received investment licenses with a total registered capital of $308 million. Over the first three months, 139 projects were licensed, capitalized at $1.924 billion. This is equal to 59.1 percent the number of projects for the same period in 2009 and 59.5 percent in registered capital.
As for operational projects, 25 have registered to increase investment capital in Vietnam, adding $50 million. During these three months, 41 projects were approved to increase capital, with registered capital of $215 million, equal to 51.3 percent in the number of projects and 5.2 percent in capital compared with the same months of 2009.
As such, the total FDI capital attracted during the start of 2010, including newly-registered and expanded projects, has climbed to $2.14 billion, equal to 29 percent of the same period of the previous year.
The disbursement rate in March reached $1.4 billion, raising the total disbursement rate in the first quarter to $2.5 billion, an increase of 13.6 percent over the same period of 2009. Commenting on the figure, economic analysts say this is an encouraging sign in the context of the global economic crisis.
When analyzing the FDI situation in Vietnam, economists compare figures of newly-registered FDI capital and disbursement rates. At one time the disbursement rate was much lower than registered capital, meaning that investors committed to investment, but did not really implement the projects.
The climate is quite different in March, as disbursements have reached record levels that are higher by $350 million than registered capital.
Analysts note that FDI disbursement rates will tend to increase in 2010. In January, it was $400 million, which rose $700 million more in February. March’s disbursement rate is double February’s and 3.5 times higher than in January.
Ba Ria – Vung Tau province continues to top the list of provinces attracting FDI, with registered capital of $902.6 million, followed by HCM City which claimed $448 million. Quang Ngai province ranks third with $340 million.
The US remains Vietnam’s largest investor, with $980 million in registered capital. South Korea ranks second with $585 million. Ranking third, Singapore has invested $147 million over the last three months.
VietNamNet, TBKTVN
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