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ASEAN funds flood Vietnam

As of June 20, investors in the ASEAN region poured 54.6 billion USD into 2,632 projects in Vietnam, according to the Ministry of Planning and Investment's Foreign Investment Agency.
As of June 20, investors in the ASEAN region poured 54.6 billion USDinto 2,632 projects in Vietnam, according to the Ministry of Planningand Investment's Foreign Investment Agency.

The agency said theaverage capital for a project invested by ASEAN investors in Vietnam was20.7 million USD, higher than the average level of 13.9 million USDfrom other investors.

Singapore took the lead with 1,428projects and a total investment of 32.2 billion USD, accounting for 60percent of the total. Malaysia ranked second with 499 projects and 12.06billion USD total capital. Thailand came third with 392 projects and6.8 billion USD investment.

Foreign direct investment from theASEAN region were mostly focused on the manufacturing and processingindustries with 1,009 projects and 22.2 billion USD registered capital,accounting for 40 percent of the total.

The property sector camesecond with 97 projects with 16.6 billion USD. It was followed by theconstruction sector, with 175 projects amounting to 3.24 billion USD.

ASEANplayers have invested in 55 provinces and cities across the nation. HCMCity has attracted the maximum number of investors, with projects worth15.07 billion USD.

Hanoi followed with 417 projects worth 8.58 billion USD. Ba Ria-Vung Tau ranked third with 67 projects worth 6.19 billion USD.

Someof the major projects by ASEAN investors include South Hoi An Resort,with a total investment of 4 billion USD from Singapore GentingVinaCapital Investment Pte Ltd; Samsung Thai Nguyen complex's phase 2 bySamsung Electronics Vietnam-Republic of Korea; a university urban areain HCM City by Malaysia's Berjaya Leisure Corporation; and Long Son oilrefinery plant in Ba Ria-Vung Tau by a Thai investor.-VNA
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