GBS-Despite the downward trend in the global trend, Vietnam’s foreign direct investment (FDI) volume increased by 92.2% and exceeded $15 billion in the first 10 months of 2018.
The Ministry of Planning and Investment (MPI) said on Monday that during this period, 2458 new projects were approved under the system. Among the existing projects, 954 had increased capital or purchased shares at a price of US$6.543 billion, an annual increase of 35.8 %.
From January to October 2018, the majority of foreign direct investment was concentrated in processing and manufacturing ($13.279 billion), real estate ($5.714 billion), and wholesale and retail ($2.385 billion).
In mid-October, the United Nations Conference on Trade and Development (UNCTAD) stated that in the first half of this year, global FDI flows fell by 41% to approximately $470 billion, a far cry from the $794 billion in the same period last year. The same period in 2017.
The agency’s analysis attributed the decline to factors such as the U.S. tax reform at the end of 2017, which expanded the repatriation of income accumulated by its subsidiaries overseas by the U.S. corporate headquarters.
James Zhan, Director of the Investment and Enterprise Division of UNCTAD, said that in this sense, the panorama “continues to be gloomy.”
As of August 20, 2018, Vietnam has launched a total of 26,500 FDI projects with a registered capital of $334 billion.
Local authorities attribute the growth of foreign capital to the country’s international reputation, its responsible presence in multilateral institutions, and its superior classification of the business environment.
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