Business

Hanoi takes lead in FDI attraction

Hanoi lured more than 6.17 billion USD in foreign direct investment (FDI) in the first seven months of 2018, making it the leading FDI attractor of the country, accounting for 26.9 percent of total FDI commitments in the period.
Hanoi takes lead in FDI attraction ảnh 1A graphic image of the 4.1-billion-USD smart-city project invested by Japan’s Sumitomo Corporation in Dong Anh district (Source:https://baodautu.vn)

Hanoi (VNA) - Hanoi lured more than 6.17 billion USD inforeign direct investment (FDI) in the first seven months of 2018, making it theleading FDI attractor of the country, accounting for 26.9 percent of total FDIcommitments in the period.

According tothe Foreign Investment Agency (FIA) under the Ministry of Planning andInvestment, Hanoi was followed by Ho Chi Minh City with 4.69 billion USD and thesouthern province of Ba Ria - Vung Tau with 2.15 billion USD in FDI, which makeup 17.9 percent and 9.4 percent of the country’s total FDI attraction,respectively.

Several large projects helped lift Hanoi to the top position.

Among them are the 4.1-billion-USD smart-city project invested by Japan’sSumitomo Corporation in Dong Anh district and Lotte Mall Hanoi with a totalregistered capital of 600 million USD invested by the giant Lotte Group of theRepublic of Korea (RoK) which aims to build a complex comprising of a shoppingmall, hotel, offices and apartments.

At the conference “Hanoi 2018 - Investmentcooperation and Development”, municipal authorities also handed over investmentlicences to 71 projects worth a total 400 trillion VND (nearly 20 billion USD),including 11 FDI projects worth 130 trillion VND (5.43 billion USD).

The municipal StatisticsDepartment said during the period, the foreign investedsector maintained its growth momentum with revenues hitting nearly 14.8trillion VND, or 48.3 percent of the yearly target, up 3.6 percent year-on-year.

Statistics from the Foreign Investment Agency said foreign investors pouredcapital into 17 sectors during the last seven months, with the processing andmanufacturing industry attracting the most at 9.63 billion USD, 41.95 percentof total registered capital.

Real estate was the second largest attractor with 5.6 billion USD, or 24.4 percentof the total investment, followed by the retail and wholesale sector with 1.69billion USD, 7.4 percent of the total.

As many as 96 countries and territories had investment projects in Vietnam inthe period. Japan led with 6.88 billion USD worth of investment, accounting fornearly 30 percent of the total investment poured into the country.

The RoK camesecond with total registered capital of 5.46 billion USD and third  was Singapore with 2.73 billion USD, making up23.8 percent and 11.9 percent of total investment, respectively.-VNA
VNA
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