Many FDI projects to Vietnam in Q1 increase capital
LG Innotek Vietnam Haiphong Co.,Ltd. (Source: LG Innotek)
Most notably, the LG Innotek Hai Phong project increased its capital by $501 million while the Regina Miracle International Vietnam project added $260 million.
The Kefico Vietnam project added $120 million and the Vina Cell Technology project $100 million.
Thanks to LG Innotek's capital increase, South Korea held top spot among countries and territories investing in Vietnam in the first quarter, reaching $1.84 billion, or 31.6 per cent of total investment capital.
Hong Kong followed, with $689 million, or 11.9 per cent of the total, then Singapore, with $649 million, or 11.2 per cent.
Total foreign capital, both new and additional, and capital contributions and share purchases by foreigners in the first quarter stood at $5.8 billion, representing 75.2 per cent of the figure in the same period of 2017.
Newly-registered capital was $2.12 billion, equal to 72.7 per cent of the same period of 2017, while additional capital was $1.79 billion, or 45.4 per cent. Capital contributions and share purchase reached $1.89 billion, or 121.6 per cent of the figure in the same period of 2017.
As at March 20, foreign direct investment projects had disbursed an estimated $3.88 billion, an increase of 7.2 per cent year-on-year.
Exports by foreign-invested enterprises (FIEs) (including crude oil) was $39.34 billion, up 22.8 per cent year-on-year and accounting for 72.4 per cent of total export turnover. Excluding crude oil, the figure was $38.83 billion, up 24.2 per cent and accounting for 71.5 per cent of total export turnover.
Imports by FIEs totaled $31.75 billion, up 13.7 per cent year-on-year and accounting for nearly 59.9 per cent of total import turnover.