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FDI keeps on sliding
The foreign direct investment disbursement and commitment picture for 2012 remains dark.
Foreign direct investment (FDI) in 2012’s first quarter fell from 2011, showing no signs of an eagerly awaited recovery.
The disbursement capital reached $2.52 billion and the new commitment was $2.63 billion during the first three months of this year, down 0.8 and 36.4 per cent, respectively in comparison with the same period last year, the Foreign Investment Agency reported.
The property sector saw the largest investment commitment with the $1.2 billion Tokyu Binh Duong project, invested by Japan’s Tokyu Group and Vietnamese partner Becamex Corporation.
In the industrial manufacturing sector, 51 investors set up new investments in Vietnam, while 25 other investors registered to increase investment capital, raising total new commitments in this sector in the first quarter to $1.7 billion.
Even though FDI inflows and commitments are declining, Vietnam is still a good production base for foreign investors. According to the Foreign Investment Agency, export turnover of foreign companies operating in Vietnam is estimated to hit $15.5 billion in the first quarter, up 43.1 per cent year-on-year and accounting for 63.4 per cent of the country’s total export turnover
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