Business

Q1 foreign direct investment inflow hits four-year high

Foreign direct investment (FDI) registered in Vietnam during the first quarter of 2019 hit the highest level since 2016, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
Q1 foreign direct investment inflow hits four-year high ảnh 1Illustrative image (Source: VNA)

Hanoi (VNA) – Foreign directinvestment (FDI) registered in Vietnam during the first quarter of 2019 hit thehighest level since 2016, according to the Foreign Investment Agency (FIA) underthe Ministry of Planning and Investment.

As of March 20, foreign investors had registered10.8 billion USD in new and additional capital and capital for buying shares ofdomestic firms, up 86.2 percent year-on-year.

This included 3.82 billion USD for 785 newprojects, rising by 80.1 percent. However, capital pumped into existingprojects, at nearly 1.3 billion USD for 279 existing ones, was equal to only72.5 percent of the figure in the corresponding period last year. About 5.68billion USD, or 52.6 percent of the total figure, was registered to buy shares,three times the figure of one year ago.

Foreign investors poured money into 18 sectors,with 8.4 billion USD or 77.7 percent channelled into processing andmanufacturing. Real estate (778.2 million USD) and science-technology (383.2million USD) came second and third in terms of FDI attraction.

The FIA said 74 countries and territoriesinvested in Vietnam in the first quarter. Hong Kong (China) topped the listwith 4.4 billion USD, followed by Singapore (1.46 billion USD), the Republic ofKorea (1.3 billion USD), China (1 billion USD), and Japan (700 million USD).

Meanwhile, FDI capital flowed into 49 provincesand cities. Hanoi was the biggest destination, attracting over 4.15 billionUSD. Ho Chi Minh City and Binh Duong province followed with 1.57 billion USDand 625.6 million USD, respectively.

Between January and March, 4.12 billion USD ofFDI projects were disbursed, up 6.2 percent from the year previous.

According to the FIA, the foreign-investedsector exported 41.45 billion USD worth of goods, including crude oil, duringthe three months, rising 2.7 percent year-on-year and accounting for 70.8percent of Vietnam’s total exports. Excluding crude oil, the figure stood at40.95 billion USD, up 2.8 percent and making up 70 percent of the totalshipments.

The FDI sector recorded a trade surplus of 7.57billion USD (including crude oil) and 7.06 billion USD (excluding crude oil).–VNA 
VNA
#Foreign direct investment (FDI) #Foreign Investment Agency (FIA) #foreign-invested sector #Vietnam’s exports #crude oil #Vietnam #Vietnam news #Vietnam News Agency
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