Public investment hits five-year high

The investment hit five-year high, reaching VND47.4 trillion (US$2 billion) in August and VND250.5 trillion between January and 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 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 and the remaining US$111.8 million pledged to 25 existing projects.