APEC makes up 73 percent of FDI in Vietnam

Taiwan leads the 16 APEC investors with 1,542 projects capitalised at US$8.04 billion, representing 27 percent in the number of projects and 19.3 percent in investment capital. It is followed by Singapore (with 447 projects and US$8.03 billion) and Japan (723 projects and US$7.1 billion). However, Japan has the largest disbursed investment capital, reaching more than US$4.7 billion.

The US has invested some US$2 billion in Vietnam, but the figure would reach US$3 billion if investment through a third country is calculated. As a result, the US ranks seventh among the 74 foreign investors in the country.  

APEC projects focus on industries, construction, services and agriculture-forestry.

Ho Chi Minh City, Hanoi and southern provinces such as Dong Nai and Binh Duong are the largest venues of APEC investment. HCM City takes the lead with more than 1,700 valid projects capitalised at US$9.8 billion. It is followed by Hanoi with 565 projects and US$7.8 billion.

Head of the Overseas Investment Department Phan Huu Thang recently unveiled a plan to work with the remaining four APEC economies left unnamed in Vietnam's foreign investment list, namely Papua New Guinea, Mexico, Chile and Peru. He said the Ministry of Planning and Investment will promote investment through diplomatic agencies from the four countries and encourage them to exchange business missions to conduct market surveys.

The hosting of the APEC Economic Leaders' Meeting and accession to the World Trade Organisation (WTO) will help elevate Vietnam’s prestige in the international arena, said Mr Thang. 

He also predicted a new wave of investment from APEC economies into Vietnam for its safe investment climate and transparent policies.

VNA/VOVNews