Business

Vietnam attracts over 29 billion USD in FDI in ten months

Vietnam attracted 29.11 billion USD in foreign direct investment (FDI) in the first ten months of 2019, up 4.3 percent over the same period last year, according to the Ministry of Planning and Investment.
Vietnam attracts over 29 billion USD in FDI in ten months ảnh 1The printed circuit board production line of the Nexcon Vietnam Co. Ltd, invested by the Republic of Korea, in Bac Ninh province (Photo: VNA)


Hanoi (VNA) - Vietnamattracted 29.11 billion USD in foreign direct investment (FDI) in thefirst ten months of 2019, up 4.3 percent over thesame period last year, according to the Ministry of Planning and Investment.

Of the figure, 12.83 billion USD was poured into nearly 3,094 newprojects, up 25.9 percent in the number of projects year on year.

Approximately 5.47 billion USD was pledged to existing projects, justequivalent to 83.6 percent of the value from a year ago.

Foreign firms invested 10.81 billion USD in Vietnam during the period throughcapital contributions and share purchases, representing a year-on-yearincrease of 70.5 percent and accounting for 37.1 percent of the total registered capital.

Processing and manufacturing remainedthe most attractive sector to foreign investors during the January-Octoberperiod, drawing 18.83 billion USD, making up 68.1 percent of the total FDI pledges. It was followed by property trade at 2.98billion USD (10.2 percent of the total) and wholesale and retail.

Among the total 107 countries andterritories investing inVietnam, Hong Kong (China) was the largest investorwith 6.45 billion USD, followed by the Republic of Korea with 5.52 billion USD and Singapore with 4.21 billion USD.

Hanoi was the largest FDI recipientduring the period with 6.61 billion USD, accounting for 22.7 percent of the total. Ho Chi Minh City came second with 4.96 billion USD (17 percent), followed by Binh Duong, Dong Nai,and Bac Ninh./.

VNA
#foreign direct investment #FDI #FDI attraction #processing and manufacturing #Vietnam's investment environment #Vietnam's FDI attraction policy #FDI projects #updated Vietnam news #Vietnamplus #Vietnam News Agency
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