Vietnam Jan-Sept FDI rises 4.8 pct to $8 bln: report 

Last updated: 9/25/2010 21:00 

Foreign investors disbursed an estimated $8 billion in Vietnam in the first nine months of this year, a rise of 4.8 percent from the same period last year, a local newspaper said on Saturday.

But foreign direct investment this month alone dropped to $800 million from $850 million in August, the Vietnam News daily cited data from the Planning and Investment Ministry's foreign investment agency as showing.

FDI disbursement, along with overseas remittances, has been an important source to offset Vietnam's growing trade deficit. The trade gap in the first eight months widened 58.4 percent from a year ago to $8.16 billion, government statistics show.

The daily said new FDI pledges and increased capital for existing projects from January to September fell 12.7 percent from a year earlier to a combined $12.19 billion, or half of a government target to attract $22 billion to $25 billion in FDI this year.

Source: Reuters

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