Business

China leads foreign investors in Vietnam in seven months

China was the biggest among the 65 countries and territories investing in new projects in Vietnam during the first seven months of 2019, data of the General Statistics Office show.
China leads foreign investors in Vietnam in seven months ảnh 1The factory of the Chinese-invested Jasan Textile & Dyeing Vietnam Co. Ltd in Pho Noi B Industrial Park in Yen My district, Hung Yen province (Photo: VNA)

Hanoi (VNA) – China was the biggest among the 65countries and territories investing in new projects in Vietnam during the firstseven months of 2019, data of the General Statistics Office show.

In the period, new Chinese-invested projectsworth 1.78 billion USD was licensed, accounting for 21.6 percent of the totalnewly registered foreign direct investment (FDI).

The Republic of Korea came second with 1.47billion USD or 17.8 percent, followed by Japan 1.12 billion USD – 13.6 percent,Hong Kong (China) 991 million USD – 12 percent, and Singapore 942 million USD –11.4 percent.

The GSO said from the year’s beginning to July20, about 20.2 billion USD of FDI poured into Vietnam, down 13.4 percent yearon year.

Of this sum, 8.27 billion USD was channelledinto 2,064 new projects, down 37.4 percent in the capital but up 24.6 percentin the project number compared to the same period last year.

Processing – manufacturing attracted most of theFDI capital, followed by real estate, and wholesale – retail and automobile –motorcycle repair.

Vietnam and the European Union recently signed abilateral free trade agreement (EVFTA) and an investment protection agreement(EVIPA) which are believed to create huge opportunities for the Southeast Asiannation to attract more foreign investments in the time ahead.

A GSO leader said the EVIPA will promote theEU’s FDI flow into Vietnam, especially in some specialised services likefinance, telecommunications, transportation and distribution. -VNA
VNA
#foreign direct investment #FDI projects in Vietnam #FDI poured into Vietnam in the first seven months of 2019 #Vietnam's FDI attraction policy #Chinese-invested projects in Vietnam #foreign investment in Vietnam #updated Vietnam news #Vietnamplus #Vietnam News Agency
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