Vietnam Pledged FDI Down 73% at US$18.9B in Jan-Oct: MPI
Vietnam is estimated to attract a total pledged foreign direct investment (FDI) of US$18.9 billion in the first ten months of this year, down 72.9% from a year earlier, the Ministry of Planning and Investment (MPI) said.
Between January and October, Vietnam licensed 658 new FDI projects worth US$14 billion, down 78.3% from a year earlier, said the MPI.
During the same period, the country allowed 179 existing projects to add US$4.87 billion, falling 4.8% from a year ago.
In the ten-month period, Vietnam estimates the FDI disbursement at US$8 billon FDI.
In the first ten months of this year, the United States remains the biggest investor in Vietnam with US$8.11 billion, followed by Brunei with US$2.01 billion, Cayman Islands with US$1.7 billion and South Korea with US$1.36 billion.
Ba Ria-Vung Tau province continues to be the most attractive destination for foreign investor in Vietnam with US$6.66 billion. The runners-up are Bac Giang with US$4.17 billion, Quang Nam with US$2.46 billion and Hanoi with US$2.28 billion.
The Southeast Asian country is expected to attract more than US$20 billion FDI and disburse over US$9 billion this year.
Since the Foreign Investment Law was effective in 1987, the country now has 10,805 valid FDI projects totaling US$174.7 billion. (MPI, VNA)
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