Investment Fresh FDI approvals up in three months By Pham Nhat Friday, Mar 27, 2020,12:46 (GMT+7) Fresh FDI approvals up in three monthsBy Pham Nhat An employee is at work at a PMTT Automation JSC plant in Hanoi – PHOTO: VNA HCMC – A total of 758 FDI projects were given the go-ahead as of March 20, and their capital pledges amounted to a combined US$5.5 billion, up 44.8% from a year earlier, according to the Foreign Investment Agency. The agency, under the Ministry of Planning and Investment, ascribed the capital surge to a liquefied natural gas-fired power plant project worth US$4 billion in the Mekong Delta province of Bac Lieu, funded by Singapore’s Delta Offshore Energy. Meanwhile, 236 existing projects received an additional US$1.07 billion, down 18% compared with the same period last year. The number of mergers and acquisitions among foreign investors rose by 52.6% to over 2,500, worth nearly US$2 billion in total. The agency claimed their overall capital value accounted for some 34.4% of the year-on-year value. Each transaction averaged US$0.78 million, much lower than the US$3.4 million earned a year earlier. FDI disbursements totaled US$3.85 billion in the first quarter of this year, a year-on-year decline of 6.6%. According… Read full this story
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