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EARNING NEARLY $US 50 BILLION, FDI ENTERPRISES ARE LEADING IN EXPORTS

VCN- $US 49.398 billion is the total value of export turnover of foreign direct investment (FDI) enterprises, accounting for about 71% of the total export turnover of Vietnam. This is the value of export turnover until 15th May 2017, according to the latest information from the General Department of Vietnam Customs.

earning nearly us 50 billion fdi enterprises are leading in exports
Opeartions at Sam Sung Group, Bac Ninh. Photo: Thai Binh.

Notably, compared to the same period last year, the proportion of turnover of FDI enterprises increased by 1% point (about 70% in the same period).

With a growth rate of 19%, FDI enterprises has a higher growth rate than the national average of 17.6%.

The strong growth of FDI enterprises is understandable because these enterprises are leading in the major export sectors of Vietnam such as telephones, computers and electronic products.

On the other hand, in the AEO Enterprises Program in the field of Customs (for large and prestigious exporters), 35 out of 60 enterprises are FDI enterprises.

Or in many big localities with large exports such as Bac Ninh, Thai Nguyen, Binh Duong and Dong Nai, the value of turnover mostly depends on FDI enterprises.

For example, in the case of Thai Nguyen, before the appearance of Samsung, this province is almost unnamed on the map of “exports” of Vietnam.

But now, Thai Nguyen has reached the second largest export province in 63 provinces and cities (after Ho Chi Minh City) in value of export turnover.

Mrs. Nguyen Thi Thanh Hao, the Head of the Division of Import-Export Management and International Economic Integration (the Thai Nguyen Department of Industry and Trade) said that the main export products in Thai Nguyen were telephones and tablets of Samsung Group.

According to Mrs. Nguyen Thi Thanh Hao, the spectacular breakthrough in export activities of Thai Nguyen in recent years is thanks to the efficiency in investment activities of Samsung Group.

“Local traditional export sectors have also improved, but they can not make the breakthrough without the presence of the Samsung Group”, the Head of the Division of Import-Export Management and International Economic Integration said.

By Thai Binh/ Hoang Anh

Source: http://customsnews.vn/

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FOREIGN DIRECT INVESTMENT PICKS UP NEARLY 41%

Total foreign direct investment (FDI) in Vietnam reached US$11 billion from the outset of the year, a year-on-year surge of nearly 41%, said the Foreign Investment Agency under the Ministry of Planning and Investment (MPI).

foreign direct investment picks up nearly 41

More than 39,580 enterprises were set up in the first five months of the year with total registered capital of nearly VND370 trillion (US$16.3 billion), up 14% in number of newly-established businesses and 48.9% in capital year-on-year.

The MPI said that the business climate and competitive and business development had improved.

Nearly US$5 billion in FDI capital was disbursed in the period, 3.2% higher than the same time last year. The Republic of Korea ranked first in capital disbursement, followed by Japan and Singapore.

The rapid increase of FDI in Vietnam was spurred by several large-scale projects approved in March. Notably, Samsung Display project got expansion approval in Bac Ninh province with additional investment of US$2.5 billion. This pushed FDI figures to US$7.71 billion in the first quarter, double that of the first two months.

Other big projects getting cash included Taiwan Polytex Far Eastern (Vietnam) Company in Binh Duong province (US$485.8 million), Coca-Cola Vietnam in Hanoi (US$319.8 million additional capital), Vietnam-Singapore Industrial Park III (US$284.75 million), Tole Panel plant in Binh Phuoc province (US$269.5 million) and Kolon Industries Inc (US$220 million) in Binh Duong province.

Source: VNA

Source: http://customsnews.vn/

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VIETNAM’S EXPORTS STILL DOMINATED BY FDI FIRMS

The turnover of foreign invested firms continues to dominate Vietnamese exports despite a decline seen in the first half of April latest statistics show

vietnams exports still dominated by fdi firms

According to the General Department of Customs (GDC), as of April 15, exports by FDI firms reached nearly US$10.87 billion, down 13% month-on-month.

Despite the fall, however, the sector accounted for 65.1% of the total export turnover this year (January 1 to April 15, 2017) at US$70.05 billion, which marked an increase of 10.95% over the same period in 2016.

FDI firms in the country now have an accumulated 2017 trade surplus of US$3.92 billion, making them significant contributors to national export value.

Meanwhile, Vietnam’s total export from the April 1 to April 15 was US$16.37 billion, a month-on-month drop of 13.9%.

This took total exports for this year to more than US$107.58 billion, an increase of nearly US$16.76 billion or 18.5% over the same period in 2016.

However, the months leading to April 15 have seen a trade deficit of US$2.56 billion, about 4.9% of export value.

On the other hand, Vietnam’s imports from January 1 to April 15, 2017 reached US$55.07 billion, up 23.1% over the same period last year.

Accumulated import turnover for FDI firms reached more than US$33.06 billion, up 23.7% year on year, accounting for 60% of the nation’s total imports.

The GDC report said the manufacturing sector will grow significantly with the opening of new FDI factories, on top of a record FDI disbursement of US$15.8 billion in 2016. The construction sector should benefit in particular from higher FDI disbursements as also continued public investments in the energy and transport sectors.

The first quarter has also saw foreign firms add US$7.71 billion in newly registered and supplemental capital. They increased their capital contribution and share purchases by 77.6% over the same period in 2016, with US$2.9 billion for 493 newly registered projects and US$3.9 billion for adding capital to 223 existing projects.

On the domestic front, export value for certain goods showed strong declines: steel was down 62%; computer, electronic parts and accessories, down 27.8%, textiles, down 20.4%; wood products, down 23.8%.

Only a few goods showed improvement in export value. Rice was up 6.5% and mobile devices and accessories went up three percent.

Source: VNA