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FDI inflow exceeds $57 billion   2008-09-26 - ThanhNien

Investment by foreign businesses in Vietnam over the past nine months surpassed US$57.12 billion, nearly a fivefold year-on-year increase, the Foreign Investment Agency said Thursday.



Of the total, capital for new projects accounted for $56.2 billion, according to the agency, an affiliate of the Ministry of Planning and Investment.

The agency estimated investment in projects in the fields of industry and construction accounted for 57 percent and 55 percent of the total foreign direct investment (FDI) and the overall number of projects, respectively.

The service sector attracted overseas investment of $23.7 billion for 361 projects while the agriculture, forestry and fisheries sectors drew in just $1.12 billion.

Foreign-invested enterprises have disbursed some $8.1 billion since the start of this year – of which 10 to 12 percent comes from Vietnamese partners.

Currently, Ninh Thuan Province ranks first in terms of the amount of FDI received, with a steel project worth $9.8 billion. Ba Ria-Vung Tau

Province is in second place with $9.3 billion in FDI.

The Foreign Investment Agency reported Malaysia had climbed to first place on the list of 40 countries and territories who have invested in Vietnam in the past nine months.

Malaysia registered $14.8 billion for 37 projects, accounting for 26 percent and 4.1 percent, respectively, of the registered FDI and the number of investment projects.

The second-largest foreign investor was Taiwan, with $8.6 billion and 116 projects, followed by Japan, Brunei and Canada.

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