Vietnam targets to attract %14bn from FDI in 2013

Vietnam set a target to attract 13-14 billion U.S. dollars from the foreign direct investment (FDI) in 2013, while to disburse 10.5-11 billion dollars, reported the Vietnamese Ministry of Planning and Investment (MPI) on Friday. According to Do Nhat Hoang, director of MPI's Foreign Investment Bureau, to achieve the targets, quality and efficient procedures including reviewing, approving and supervising the FDI projects, as well as managing registered capital and coordination among relevant agencies, must be improved. As of December 2012, there have been 98 countries and territories investing in Vietnam, with 14,489 projects and total registered capital of 213.6 billion U.S. dollars. Japan is the biggest investor, accounting for 13.6 percent of the total registered capital. In 2012 alone, newly and expanded registered capital reached 13. 01 billion dollars, down 15.3 percent, while disbursed capital hit 10.46 billion dollars, down 4.9 percent, compared with 2011. Processing and manufacturing industries attracted the most FDI, with 9.1 billion dollars, accounting for 70 percent of the total registered capital in 2012. Meanwhile, as of December 2012, Vietnam has 712 projects implementing in 60 countries and territories, with a total investment of 12.4 billion dollars. In 2012 alone, Vietnam invested in 75 projects in 28 countries and regions, with a total capital of 1.3 billion dollars. Disbursement reached 1.2 billion dollars, up 28 percent over the previous year. Vietnam plans to invest 1-1.5 billion dollars overseas in 2013, while it will disburse from 900 million dollars to one billion dollars, reported the MPI.