ASEAN Economic Bulletin60Vol. 26, No. 1, April 2009
TABLE 1Registered and Realized FDI Flows to Vietnam by Sources of Data(In US$ million)
FDI flows, MPI sourceFDI flows, GSO source Number ofRegisteredRealizedNo. ofRegisteredRealized licensedcapitalcapitallicensedcapitalCapital projects projects
198838322—838322— 198968526—468526— 1990108735—180108735— 19911511,2844283751511,29232919921972,0775754741972,20957519932742,8291,1189262743,3471,01819943674,2622,2411,9453674,5352,04119954087,9252,7921,7804087,6992,55619963659,4292,9231,8033879,7352,71419973485,8223,2182,5873586,0553,11519982754,7812,3751,7002854,8772,36719993112,1972,5371,4843112,2642,33520003792,4942,4201,2893892,6962,41420015503,2362,4301,3005503,2302,45120028022,8052,5911,2008022,9632,59120037723,1282,6501,4507483,1462,65020047234,2222,8601,6107234,2222,85220059226,3393,3002,020———
: — data not available.S
: GSO website, MPI database (various source) and UNCTAD database on website.
Year Actual FDI flows,UNCTADsource
excluded from the official record on FDI becausemost of this investment is undertaken throughtheir relatives who are Vietnamese residents.Evidence from the ASEAN Secretariat andUNCTAD shows FDI inflows began before 1986 — the first year of reform initiated by the VICommunist Party Congress. However, mostforeign investment in the planned economy phasewas composed of official aid from governments of the former Soviet-bloc countries. Therefore, theentry of FDI was recognized as soon as a new lawon FDI was sanctioned and became effective in1987. Twenty years of attracting FDI can bedivided into several episodes. In the first four years (1988–91), FDI inflow was small andaffected by the internal instability of the economy(for instance, hyper-inflation and food shortages),and the collapse of the Soviet federation as well asthe socialist countries bloc. At this stage, manyrestrictions and consequences of the plannedeconomy prevented FDI inflows. A significantincrease in FDI had just occurred when many FDI-related policies changed in accordance withstabilizing macro economic problems by the endof 1991. The next period (1992–97) witnessedcontinuous massive FDI inflows reaching a peak