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FDI VALUE REACHES US$28.53 BLN IN 2020
Foreign Direct Investment (FDI) registered in Vietnam hit US$28.53 billion in 2020 as of December 20, 2020, down 25% year on year, according to the Ministry of Planning and Investment. They disbursed US$19.98 billion of their registered value, down 2% year on year.
Foreign investors invested in 19 fields, led by the processing and manufacturing industry with US$13.6 billion (accounting for 47.7% of total registered investment capital), followed by the electricity production and distribution sector with over US$5.1 billion (18%), the real estate sector with US$4.2 billion and the wholesale and retail sector with US$1.6 billion.
As many as 112 countries and territories invested in Vietnam in 2020. Singapore took the lead with nearly US$9 billion (accounting for 31.5% of total investment capital). South Korea ranked second with over US$3.9 billion (13.8%). China ranked third with US$2.46 billion (8.6%), followed by Japan, Taiwan, and Hong Kong.
By new project number, South Korea ranked first with 609 projects, followed by China with 342 projects, Japan with 272 projects, and Hong Kong with 211 projects.
Viet Nam’s economic growth is projected to expand 6.8% per year in the medium term 2021 – 2025, according to the latest forecast jointly conducted by the National Center for Socio-Economic Information and Forecasting (NCIF) and the United Nations Development Program (UNDP).
1. Global finance centre reboot on the cards 2. Banks face restructuring debt risks 3. Bank bad debt in Hanoi estimates at 1.91pct 4. 2021 GDP growth may reach 6.72pct in best-case scenario: Conference5. Power transmission output up 2pct in 2020 ----and more news
Most apartment building projects of developers like Tan Hoang Minh Group, Sunshine Group, Sun Group, and Hateco Group, located in Ba Dinh, Tay Ho, and other districts reported poor take-up rates during the year of the pandemic.
1. Automobile weight station supply2. Equipment and spare parts supply3. Pads grinding lining membrane supply4. Wellhead assembly for gas wells supply5. Equipment and materials supply-bid extend----and more news
The 13th National Party Congress is expected to set the country’s average annual growth rate of 6.5-7 per cent from now until 2025, when Vietnam may become a higher middle-income nation. To this end, restructuring public investment and state-owned enterprises will be more critical in order to create a level playing field in the economy.
The first phase of the Gemalink international port, which is located in the southern province of Ba Ria-Vung Tau, was put into operation with the welcoming of the first commercial vessel on January 19.