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Malaysia emerges as Vietnam's biggest investor in Jan-Sept

Malaysia emerges as Vietnam's biggest investor in Jan-SeptMalaysia has surpassed traditional top investors like South Korea, Japan, Taiwan and Singapore to become the biggest foreign investor in Vietnam in the first nine months of this year, says the Foreign Investment Agency.

The agency of the Ministry of Planning and Investment (MPI) says the country attracted a total of US$57.12 billion in foreign direct investment (FDI) in January-September, and that Malaysia made up some 26% of the amount via 37 licensed projects. Malaysia's rising profile in Vietnam's FDI scenario, according to the MPI, is attributed to some big-ticket projects licensed this year.

These include a US$9.8 billion venture between Maju Stabil Sdn. Bhd, a unit of Malaysia's Lion Group, and Vietnam Shipbuilding Industry Group (Vinashin), to develop a giant steel complex and supporting facilities in the central coast province of Ninh Thuan. This was also the biggest FDI project to be licensed in Vietnam in the first nine months.

Vietnam's steady economic growth over years and its bright prospects have encouraged Malaysian investors to pour money into the country, say experts. Vietnam's entry into the World Trade Organization (WTO) has opened many opportunities for foreign investors, including Malaysian investors. Apart from small and medium enterprises, many big Malaysian businesses are setting up production facilities here. These advantages have prompted Malaysian investors to come to Vietnam where they are particularly interested in industry and real estate.

Real estate projects took the lead and one Malaysian investor that has major plans for real estate investment is Berjaya.

Meanwhile, Malaysia's Wijaya Baru Group has been conducting a feasibility study for two environmental projects in HCMC since the signing of memorandums with HCMC earlier this year. It will build a facility in District 2 to treat wastewater from residential areas in the basin of the Nhieu Loc-Thi Nghe Canal. Vietnam has so far attracted over US$142 billion with about 9,580 FDI projects. Taiwan is the biggest foreign investor in Vietnam with some 1,950 projects capitalized at over US$19.46 billion. Malaysia has 281 projects with investment capital of US$17.7 billion.
 
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