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China invests $7.94b in Vietnam in 2014: ministry

Updated: Dec 9,2014 6:38 PM     Xinhua

HANOI — As of Dec 5, Chinese investors registered 1,082 projects with registered capital of $7.94 billion in Vietnam in 2014, ranking ninth out of 101 economies investing in Vietnam, according to Vietnam’s Ministry of Planning and Investment’s Foreign Investment Agency (FIA) on Dec 9.

The average investment per project by Chinese investors stood at $7.34 million, compared with the average level of over $14 million per one foreign direct investment (FDI) project in Vietnam.

Chinese investors turn out to be keen on industrial processing and manufacturing with 744 projects and $4.23 billion, accounting for 53.3 percent of the Chinese investment in Vietnam.

Electricity production ranks second with $2.04 billion of registered capital, accounting for 25.8 percent of total Chinese investment in Vietnam.

Southern Binh Thuan province lured most investment of China, with five projects and $2.02 billion while northern Lao Cai province sits the second in the list with $803.1 million, said FIA.

In northern provinces bordering China including Quang Ninh, Lang Son, Cao Bang, Ha Giang, Lao Cai, Lai Chau, Dien Bien, Chinese projects mainly fall in industrial processing, manufacturing and mining.

Several key projects by Chinese investors in Vietnam include Vinh Tan 1 Power Company in Binh Thuan province (with investment of $2.01 billion), Viet Luan Tires Company in southern Tay Ninh province ($400 million) and Tan Cao Tham Company in Lao Cai province ($337.5 million) among others.