A beverage factory of Japan's Kirin company in the My Phuoc 2 Industrial Park, Binh Duong province (Photo: VNA) Hanoi (VNA) – Foreign direct investment (FDI) inflow saw a significant 54.8 percent surge in the first half of this year against the same period last year, reaching 19.22 billion USD, statistics from the Foreign Investment Agency revealed.
The figure included 11.83 billion USD poured into new projects.
The processing and manufacturing sector attracted the lion share of FDI at 9.48 billion USD, accounting for 49.3 percent of total FDI registered in the country. Electricity production and distribution ranked second with 5.25 billion USD or equivalent to 27 percent, while the mining sector came third with 1.28 billion USD or 6.68 percent.
Japan surpassed the Republic of Korea to become Vietnam’s leading source of FDI in the period, pumping 5.08 billion USD into the country, making up 26.5 percent of the total FDI. Investors from the RoK invested 4.95 billion USD, or 25.8 percent, while those from Singapore poured 3.48 billion USD, or 18.1 percent.
[VN targets parity between FDI, domestic firms]
From January to June, the central province of Thanh Hoa was the most attractive destination for foreign investors as it attracted 3.06 billion USD in FDI, accounting for 15.9 percent of the nation’s total FDI. It was followed by the northern provinces of Bac Ninh and Nam Dinh with 2.85 billion USD or 14.83 percent and 2.19 billion USD or 11.4 percent, respectively.
In the same period, FDI disbursement experienced a year-on-year increase of 6.5 percent to 7.72 billion USD in the first half of this year.
Foreign-invested sector accounted for 71 percent of the country’s total six-month export turnover. The sector also recorded trade surplus of 10.22 billion USD in the period.
As of June 20, 2017, the country is home to more than 23,590 valid foreign-invested projects with a total registered capital of 306.3 billion USD. Over half of the total has been disbursed, according to the agency. -VNA
VNA
