Vietnam's Jan-Oct FDI inflow seen uspan at $11.8 bln: gov't

Vietnam will receive an estimated US$11.8 billion in actual foreign direct investment (FDI) in the first 10 months of 2015, up 16.3 percent from a year earlier, the Planning and Investment Ministry said on Wednesday.

New FDI pledges in the January-October period rose 24.8 percent from a year ago to $12.42 billion, the ministry said in a report, citing major projects such as the $2.4 billion Duyen Hai 2 thermal power plant.

Additional funds to existing projects rose 83.2 percent in the same period to $6.86 billion, it said.

Vietnam has projected to attract $23 billion in FDI pledges in 2015, up nearly 40 percent from last year, while actual inflows are expected to be on par with 2014 at $12.5 billion, Planning and Investment Minister Bui Quang Vinh said last month.

FDI inflows are an important source of foreign exchange for Vietnam to offset its trade deficit.

The country is also short of funds for infrastructure projects.

Vietnam"s Jan-Oct FDI inflow seen uspan at $11.8 bln: gov"t

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