Singapore tops foreign investors in Vietnam in first quarter

Illustrative image (Photo: VNA)

Hanoi (VNA) - Singapore was the largest foreign investor in Vietnam in the year to March 20 with over 2.55 billion USD, making up 41.3% of the total foreign direct investment (FDI) registered in the country, according to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).

It was followed by Hong Kong (China) with 1.05 billion USD, accounting for 17.1% of the total and increasing 2.3 times compared to the same period last year.

China led 62 countries and territories investing in Vietnam in the number of new investment projects, accounting for 27.8% of the total. Meanwhile, the Republic of Korea took the lead in the number of capital-added projects and contributions for share purchases, making up 23% and 27.8%, respectively.

Vietnam had attracted 6.17 billion USD in FDI as of March 20, a year-on-year rise of 13.4%. Specifically, 644 new projects with total registered capital of 4.77 billion USD were granted investment certificates, up 23.4% in the number of projects, and 57.9% in value year-on-year.

A total of 934.6 million USD was registered to be added to 248 existing projects and 466.2 million USD earmarked for stake purchase and capital contribution.

The disbursed foreign investment rose by 7.1% in the first quarter to reach 4.63 billion USD, a signal that the disbursement will continue the positive trend, the agency said./.