Thursday, August 17, 2017 - 17:01:56

Vietnam's FDI inflow surges at start of year

VNA Print

A worker at the Kim Dinh Company in the Hi-tech Park in Ho Chi Minh City. (Source: VNA)

Hanoi (VNA) – Foreign companies registered to invest more than 2.8 billion USD in Vietnam during the first two months of this year, up 135 percent year-on-year.

According the General Statistics Office (GSO), of this sum, over 1.9 billion USD came from 291 newly-licensed projects, surging 96.6 percent in the number of projects and 167.5 percent in the level of capital, while another 137 operating projects, which expanded their investments, contributed 898.3 million USD. GSO noted that disbursements of foreign direct investment (FDI) also recorded a yearly rise of 15.4 percent to an estimated 1.5 billion USD.

During the reviewed period, the manufacturing and processing sector accounted for more than 71 percent of the total FDI pledged in the country, as it attracted 1.99 billion USD. This was followed by the entertainment industry, with 210.6 million USD.

Singapore remained Vietnam's largest source of FDI, with 435.2 million USD and making up 22.8 percent of the nation's total new registered FDI in the past two months. It was followed by Malaysia with 233.2 million USD or 12.2 percent; the Republic of Korea (202.4 million USD or 10.6 percent); and Japan (160.6 million USD or 8.4 percent).

Large foreign investors also included Hong Kong, mainland China, the United Kingdom and Taiwan.

In the first two months, Hanoi retained its position as the most attractive investment destination for foreign investors. The capital city attracted 242.4 million USD in investments, totalling 12.7 percent of FDI pledged in the country.

The northern provinces of Bac Giang and Bac Ninh came in second and third with 206.1 million USD or 10.8 percent, and 200.6 million USD or 10.5 percent, respectively. They were followed by Ba Ria-Vung Tau province with 157.1 million USD; HCM City (156 million USD); Dong Nai province (143 million USD) and Ha Tinh province (139 million USD).

Earlier, Nguyen Mai, Chairman of the Vietnam Association of Foreign Invested Enterprises, told online newspaper bizlive that many multinational groups have scheduled to move their production and businesses from other countries in the region to Vietnam to take advantage of the FTAs. Therefore, the Government should guide authorities of provinces and cities to choose suitable foreign investors and technologies to protect the environment and reduce energy usage, he noted.-VNA
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