PVN invests some USD7.1 billion abroad. (Photo: PVN)
The opening eight months of the year witnessed the total newly granted and adjusted Vietnamese investment abroad reach a figure of USD330.2 million, a rise of 15.8% from the same period last year.
Most notably, a total of 86 projects were granted new investment registration certificates, with registered capital reaching approximately USD218.5 million, representing an annual increase of 21.3%. In addition, projects had their capital investment adjusted with an additional capital of USD111.8 million, marking a rise of 13.3% on-year.
August alone saw six projects receive new investment registration certificates whilst eight projects had adjusted investment capital, with the overall figure for newly granted and additionally increased investment capital standing at USD 77.3 million, equal to 47.8% over the same period last year, despite being 2.5 times higher than the level from July.
Vietnam News Agency quoted Foreign Investment Agency saying that local enterprises made investments abroad across 13 fields during the reviewed period. Indeed, the processing and manufacturing industry took the lead, with 10 new projects and six projects with capital adjustments featuring registered capital of USD 225.7 million, accounting for 68.4% of total outward investment capital.
Furthermore, accommodation and catering services were in second place with a total investment of USD39.6 million, making up roughly 12%, followed by the wholesale and retail sectors, along with information communication.
Overall 24 countries and territories were recipients of investment from the country during the initial eight months of the year. Of these foreign locations, Germany tops the list with four new investment projects with total capital of USD92.6 million, constituting 28% of total investment capital. Elsewhere, Laos came in second with a sum of USD86.7 million, accounting for 26.3%, followed by Myanmar, the United States, and Singapore.
Despite the impact of the novel coronavirus pandemic, local firms remain active in conducting investments abroad, as indicated by the eight-month figure which stood at a higher level in comparison to the same period last year. Indeed, this 15.8% rise indicates the persistence and strong resilience of displayed by Vietnamese businesses against external shocks.
Additional SARS-CoV-2 virus test kit developed in Vietnam
The SARS-CoV-2 virus test kit has recently been successfully researched and produced at the College of Science under the Thai Nguyen University by Dr. Nguyen Phu Hung and his 12 colleagues.
Photo: soytethainguyen.gov.vn
The kit was developed using the university’s modern machines, domestic and international documents, lessons and experience from earlier kit production.
The research, which was conducted simultaneously in 2 laboratories, one in Thai Nguyen University and the other in the Thai Nguyen Central Hospital which had been licensed by the Ministry of Health for testing SARS-CoV-2, lasted 3 months before the kit was recognized to have both the sensitivity and specificity of 100% by the National Institute for Control of Vaccine and Biologicals.
Later, the SARS-CoV-2 test kit, using the realtime RT-PCR technology, was assessed of excellent research by a council of experts and researchers from the National Institute of Hygiene and Epidemiology, the National Institute for Control of Vaccine and Biologicals, the Vietnam Academy of Sciences and the Vietnam – France University.
According to leaders of the Thai Nguyen provincial Department of Science and Technology, the price for each test is estimated at VND370,000, some 20-30% lower than the existing kits, while it takes a shorter time of about 30-45 minutes for each test.
Thai Nguyen province is carrying out procedures for the kit to be licensed and produced, to serve the current urgent tests in fighting COVID-19.
Vietnam attracts USD19.54 billion FDI in 8 months
Vietnam attracted USD19.54 billion worth of FDI as of August 20, down 13.7% year-on-year, Vietnam News Agency has reported statistics from the Ministry of Planning and Investment.
Vietnam always attracts foreign investors. In the photo is the Japanese UMC plant in Vietnam. (Photo: baodautu.vn)
There were 1,797 new FDI projects licensed, with registered capital totalling USD9.73 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 USD4 billion, or 41.1% of the total.
Meanwhile, 718 existing projects were permitted to raise their investment by more than USD4.87 billion in total, a 22.2% increase year-on-year.
Foreign investors also outlaid USD4.93 billion on share purchases or capital contributions during the period, down 48.2%.
Capital was channeled into 18 sectors, in which manufacturing and processing took the lead after receiving over USD9.3 billion, or 47.7% of the total. It was followed by power production and distribution, with over USD4 billion, real estate USD2.87 billion, and wholesale and retail USD1.21 billion.
Singapore was the largest source of FDI, with a committed USD6.54 billion, accounting for 33.5% of the total. The Republic of Korea and China followed, with USD2.97 billion and USD1.75 billion, respectively, then Japan, Thailand, and Taiwan (China).
Of the 59 localities receiving FDI in the first eight months of this year, the Mekong Delta province of Bac Lieu ranked top with USD4 billion. Hanoi was second with USD2.86 billion and HCM City third with USD2.62 billion, followed by Ba Ria-Vung Tau and Binh Duong provinces and Hai Phong city./.