U.S. Tops FDI Source in Vietnam in Jan-August
Companies from the U.S. have invested around US$4 billion in Vietnam in the first eight months of this year, making the U.S. the largest FDI investor in Vietnam for the period, an official from the Vietnamese Ministry of Planning and Investment (MPI) said.
Le Hai Van, head of the statistics division of the MPI’s Foreign Investment Agency, said that U.S. firms accounted for 37% of Vietnam’s Jan-Aug FDI against a mere 3% of Vietnam’s total US$46.3 billion in FDI in the same period in 2008.
The U.S projects mostly focused on the service sector, especially the hotel and tourism industry.
Following the U.S. is Taiwan with US$1.35 billion, the British Virgin Island with US$1.24 billion and South Korea with US$1.2 billion.
The U.S. now ranks 7th among more than 80 foreign investors in Vietnam.
Vietnam is estimated to have attracted a total pledged FDI of US$10.453 billion in the first eight months of this year, down 81.6% on-year, said the Head of the Foreign Investment Agency, Phan Huu Thang. (HCM City Law)
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