Reviewing 5 “huge” FDI projects of 2020
Reviewing 5 “huge” FDI projects of 2020
According to the Foreign Investment Department, the Ministry of Planning and Investment, despite Covid-19, there are still a lot of foreign investors interested, trusting and wishing to invest in Vietnam. But due to the effects of the Covid-19 epidemic, the travel of investors as well as new investment decisions and the expansion of the scale of foreign investment projects continue to be affected. The number of new projects, capital adjustment and the number of foreign investors’ lecturers also decreased compared to the same period, but the decrease rate is also improving, adjusted investment capital also increased by 7.8% over the same period.
In the context of a sharp decline in global investment due to the effects of the Covid-19 epidemic, this result is better than many other countries, demonstrating Vietnam’s attractiveness in the eyes of international investors. In particular, this year, Vietnam has welcomed 5 major projects.
The largest FDI project this year is the Bac Lieu Liquefied Natural Gas (LNG) Power Plant under LNG Bac Lieu Thermal Power Center (Singapore), with a registered investment capital of 4 billion USD with the goal of producing electricity from natural gas. LNG liquefied fuel (issued with Certificate of Business Registration dated January 16, 2020). With only one new project, Bac Lieu has consistently led the country in FDI since the beginning of the year, outstripping Ho Chi Minh City. LNG Bac Lieu is also a project that makes Singapore continuously the leading investor, although the number of projects is only fourth in comparison to other countries, with a total investment of 6.77 billion USD, accounting for 32% of total investment capital. into Vietnam.
Up to now, Delta Offshore Energy Company has submitted legal documents in accordance with the laws of Vietnam. The formal negotiation with EVN on a 25-year power purchase agreement (PPA) will be signed at the end of this year.
Engineering Design (FEED) will be completed by the end of 2020, allowing the implementation of the project to begin as soon as 2021 so that the first unit of the power plant will operate commercial power generation by 2024. Adjusted Power Planning VII.
The second largest project currently is the Southern Petrochemicals Complex (Long Son Petrochemicals – LSP), which SGC invests, is being deployed in Ba Ria-Vung Tau, adjusted to increase investment capital 1.386 billion USD.
In the meeting with the Prime Minister, SCG Chairman Roongrote Rangsiyopash expressed his sincere thanks to the ministries and branches of Vietnam for facilitating the procedures and permits for the LSP project. But he explained, recently, the LSP project has been a bit behind schedule, mainly due to equipment suppliers in Europe. However, in general, up to now, the project has completed 62% of the schedule. The Group is making efforts to apply the most advanced technologies to overcome the slow progress, strive to complete and put the project into operation by the end of 2022 as committed.
Third is the project of West Lake Urban Center (Korea) in Hanoi, adjusted to increase investment capital by more than 774 million USD. The Starlake Tay Ho Tay project is 100% invested by T.H.T Development Co., Ltd. The total invested capital of the project as announced initially is 548 million USD. With an additional capital increase of 774 million USD, the project has the current investment capital of more than 1.3 billion USD. Currently, Daewoo Engineer & Construction holds 100% capital of T.H.T. Starlake is also the first apartment project in Hanoi invested by Daewoo
Fourth is the Pegatron Vietnam (Taiwan) project, invested 481 million USD with the goal of producing gaming equipment, phone accessories, smart speakers, game controllers; computers in Hai Phong (issued with Investment Certificate dated October 30, 2020). Pegatron is a partner of many large corporations such as Microsoft, Apple or Sony …
Finally in the top 5 is the Radian Jinyu Tire Factory (Vietnam) project, with a total investment of 300 million USD with the goal of producing TBR all-steel tires, invested by Chinese investor Jinyu Tire in the West. Ninh (issue of certificate of registration on January 21, 2020). Jinyu Tire is a Chinese tire manufacturer, reaching the top 75 title in the world. Jinyu Tire products are distributed widely in China and over 100 countries around the world. TBR Jinyu Tire factory is decided to invest in Vietnam with an expected capacity of 2,000,000 products / year.
Phuong Dung
According to Nhip song kinh te