Newly-Registered FDI Picks Up 54% in Ten Months

As of October 21, Viet Nam licensed 2,606 new FDI projects worth US$15.29 billion, up 66.1 percent in number and 54 percent in capital in comparison with the same period last year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

In addition, as many as 1,051 projects have registered to increase their investment capital by more than US$5.33 billion, up 66.1 percent over the same period last year.

Foreign investors also pledged to pour over US$5.13 billion in capital contribution and shares purchase in domestic companies, down 5.4 percent against the same period last year but up 35.4 percent in value.

In total, the FDI inflows to Viet Nam reached US$25.76 billion from the beginning of the year to October 21, up 14.7 percent year-on-year.

During the reviewed period, disbursed volume of FDI rose by 2.4 percent year on year to about US$18 billion.

The FIA said foreign investors engaged in 18 out of the 21 economic sectors so far this year.

The processing and manufacturing industry took the need absorbing nearly US$18.84 billion accounting for almost 73.1 percent of the total, up 45.8 percent. 

It was followed by real estate (nearly US$2.14 billion, down 44.8 percent), finance - banking (nearly US$1.54 billion, up 61.4-fold), and wholesale - retail (nearly US$907 million, up 6.3 percent).

Singapore was the top investment by pouring in nearly US$ 4.65 billion, making up over 18 percent of the total. The Republic of Korea came second with nearly US$3.93 billion (making up 15.2 percent and rising 0.5 percent).

Quang Ninh was the top FDI recipient as it attracted nearly US$3.09 billion, followed by Hai Phong city with US$ 2.8 billion, Ha Noi, Ho Chi Minh City, and Bac Giang province.

Source: VGP