Public investment hits five-year high

Monday, 2020-08-31 12:39:47
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Public investment hit five-year high, reaching VND47.4 trillion in August and VND250.5 trillion from January to August.
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NDO/VNA – Public investment in August and the first eight months of this year increased 45.4% and 30.4% year-on-year, respectively, according to the General Statistics Office (GSO).

The investment hit five-year high, reaching VND47.4 trillion (US$2.0 billion) in August and VND250.5 trillion from January to August.

In the eight months, the amount of capital under the management of the central government was VND41.2 trillion, equivalent to 48.7% of the yearly target and up 65.1% against the same period last year; and the volume of capital under the management of local administrations was VND209.3 trillion, equivalent to 51.1% of the yearly target and a year-on-year rise of 25.2%.

Vietnam attracted US$19.54 billion worth of FDI as of August 20, down 13.7% year-on-year, according to the Ministry of Planning and Investment.

There were 1,797 new FDI projects licensed, with registered capital totalling US$9.73 billion, down 25.3% in terms of project numbers but up 6.6% in value compared to the same period last year. The increase was attributed to the inclusion of the Bac Lieu LNG-to-power project, with investment capital of US$4 billion, or 41.1% of the total.

Meanwhile, 718 existing projects were permitted to raise their investment by more than US$4.87 billion in total, a 22.2% increase year-on-year.

Foreign investors also outlaid US$4.93 billion on share purchases or capital contributions during the period, down 48.2%.

During the eight-month period, Vietnam invested a total of US$330 million abroad, up 15.8% year-on-year, the ministry reported.

Of that number, US$218.4 million was poured into 86 new projects with the remaining US$111.8 million pledged to 25 existing projects.

The largest share of Vietnamese investment was injected into manufacturing and processing with US$225.7 million. Coming second was lodging and catering services with US$39.6 million, followed by the wholesale and retail sector, and auto and motorbike repairs, at US$19.6 million.

Among the 24 countries and territories where Vietnamese investors were active in the eight months, Germany was the largest with US$92.6 million, followed by Laos, US$86.7 million; Myanmar, US$44.6 million; and the US, US$40.8 million.