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Manufacturing and processing sector playing key role in FDI attraction

The manufacturing and processing sector has taken the lead in attracting foreign direct investment (FDI) since the beginning of this year, pulling in 6.1 billion USD, or over 43 percent of the total.
Manufacturing and processing sector playing key role in FDI attraction ảnh 1Processing pineapples at a plant in An Giang (Photo: VNA)

Hanoi (VNA) - The manufacturing and processing sector has takenthe lead in attracting foreign direct investment (FDI) since the beginning ofthis year, pulling in 6.1 billion USD, or over 43 percent of the total.

Of the 613 foreign-invested projects in 18 sectors licensed this year,electricity production and distribution ranked second in terms of FDIattraction with more than 5.4 billion USD, or over 38 percent of the total, followedby real estate with over 1 billion USD.

Head of the Ministry of Planning and Investment (MoPI)’s Foreign InvestmentAgency Do Nhat Hoang said FDI flows to key areas such as energy and manufacturingand processing are evidence of Vietnam’s stability and prestige in FDIattraction.

Minister of Planning and Investment Nguyen Chi Dung recently issued adecision removing 58 administrative procedures in investment, thus helping enterprisessave time and money.

The MoPI also announced 65 new administrative procedures in investmentfrom the central to provincial levels, creating favourable conditions forinvestors./.

VNA
#foreign direct investment #Vietnamplus #Vietnam News Agency #FDI #manufacturing and processing sector #Ministry of Planning and Investment #FDI #administrative procedures Vietnam
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