Foreign investment into Vietnam up sharply

One of the bright spots in the economy during the first quarter of this year was the positive results in FDI attraction and disbursement. Figures show that, in the first 3 months of the year, total foreign investment reached over 10 billion USD, up 18.5% over the same period of last year.

A representative of this company said it will pour investment in the millions of USD into Vietnam over the next few months. The capital will be used to expand the storage of vehicles and engines and invest in advanced technology regarding engine exhaust inspection systems for automatic vehicles.

After 5 years of operations, with steadily increasing output, the company built more factories earlier this year to meet the needs of production expansion.

The average size of both newly-licensed projects and those adding capital increased strongly year-on-year, which was the main reason behind the strong increase in FDI. Another positive in the first quarter was that disbursed capital rose 6.5% year-on-year.

It is forecast that FDI attraction will continue to be positive in the context of many investors shifting the location of their investment and major investors in the country expanding existing projects./.