As of November 20, disbursement of FDI projects in Vietnam jumped to US$16.5 billion, representing an increase of 3.1% year-on-year, as the US and China have not show signal of backing down from their trade spat, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.
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Meanwhile, in the 11 months through November, 5,882 projects have had US$7.6 billion in capital contributed by foreign investors, up 44.4% year-on-year.
Investors have invested in 18 fields and sectors, in which manufacturing and processing continued to attract substantial attention with investment of US$14.2 billion, accounting for 46.2% of total capital approvals.
Real estate was the second most heavily invested, with US$6.5 billion, or 21.3% of total registered capital, followed by retail and wholesale with US$3.1 billion or 10%.
The data shows that 108 countries and territories have invested in Vietnam in the 11-month period, with Japan taking the lead with US$8 billion, accounting for 25.9% of total investment. South Korea came second with US$6.8 billion or 22.3% of total investment, while the third place belonged to Singapore with US$4.1 billion or 13.4%.
Among 59 cities and provinces having received foreign investment, Hanoi attracted the largest portion of registered capital with US$6.3 billion, or 20.4% of total investment, followed by Ho Chi Minh City with US$5.6 billion or 18.1% of the total investment, and Ba Ria - Vung Tau with US$2.49 billion, accounting for 8% of total investment.
The biggest-ticket projects in six months include the smart city project in Dong Anh district, Hanoi with total investment capital of US$4.138 billion; the US$1.2-billion polypropylene manufacturing plant by Hyosung Corporation (South Korea) located at Cai Mep Industrial Zone in Ba Ria - Vung Tau; the Laguna hospitality project with additional fund of US$1.12 billion from Singaporean investors.
Additionally, Vietnam licensed the US$600-million Lotte Mall Hanoi project that embraces a hotel, apartment, office, and trade center complex; and the LG Innotek Hai Phong facility with additional capital of US$501 million for manufacturing camera modules.
According to experts and fund managers, Vietnam is poised to reap benefits from the ongoing US-Sino trade war as manufacturers shift production to the country from China.
So far, foreign investors have committed to pour over US$300 billion in Vietnam, with South Korea taking the lead with US$62.27 billion, followed by Japan and Singapore.
Source: FIA. Graphic: Nguyen Tung
