FDI contributes greatly to national economy

ABO/VNA - The issuance of the Law on Foreign Investment in Vietnam in 1988 marked a turning point in the country’s efforts to draw foreign direct investment (FDI). After 30 years, FDI enterprises have formed an indispensable part of the national economy and local growth.

The northern province of Bac Ninh, in 1997, had only 4 FDI projects totalling 177.6 million USD, and it is now home to 1,082 projects with over 15.5 billion USD. These turned the locality into one of the leaders in FDI attraction.

As of August 20, 2018, the country had 26,500 valid FDI projects with total registered capital of 334 billion USD. Of the sum, about 184 billion USD has been disbursed. FDI disbursement accounted for an average 18-25 percent of total investment for development of society during 1991-2017.

(Source: VNA)