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ECONOMY

Vietnam’s FDI commitments reach record high of US$10.8 billion in Q1

Updated at Wednesday, 27 Mar 2019, 14:05
The Hanoitimes - Disbursement of FDI projects jumped to US$4.12 billion in the year to February 20, representing an increase of 6.2% year-on-year.
Foreign direct investment (FDI) commitments in the first quarter of 2019 totaled US$10.8 billion, the best first-three-month performance to date, and soaring 86.2% year-on-year, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.
 
Illustrative photo.
Illustrative photo.
Disbursement of FDI projects jumped to US$4.12 billion in the year to February 20, representing an increase of 6.2% year-on-year.

According to the agency, 785 new projects have been approved with total commitments of US$3.82 billion in the January – March period, up 80.1% from the corresponding period last year, while 279 existing projects have been injected an additional US$1.3 billion, down 27.5% from the same period last year. 

In the first quarter of 2019, 1,653 projects have had US$5.68 billion in capital contributed by foreign investors, an increase of 3-fold year-on-year and accounting for 52.6% of total registered capital.

Investors have invested in 18 fields and sectors, in which manufacturing and processing continued to attract substantial attention with investment capital of US$8.4 billion, accounting for 77.7% of total FDI approvals.

Real estate was the second most heavily invested, with US$778.2 million, or 7.2% of total registered capital, followed science and technology with US$383.2 million or 3.5%.  

The data shows that 74 countries and territories invested in Vietnam in the three-month period, with Hong Kong (China) taking the lead with US$4.4 billion, accounting for 40.7% of total investment. Singapore came second with US$1.46 billion or 13.5% of total investment, while the third place belonged to South Korea with US$1.3 billion or 12.2%.

China and Japan claimed the fourth and fifth places with US$1 billion and US$700 million, respectively. 

Among 49 cities and provinces having received foreign investment, Hanoi attracted the largest portion of registered capital with over US$4.15 billion, or 38.4% of total investment. Hong Kong-based Beerco Limited invested US$3.85 billion in a beer project in Hanoi, owned by Vietnam Beverage Co.

Ho Chi Minh City came second with over US$1.57 billion or 14.5% of the total investment, followed by Binh Duong with US$625.6 million, accounting for 5.8% of total investment.  
Ngoc Mai
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