FDI commitments to Vietnam down 15% to US$15.67 billion in H1
The Hanoitimes - Investors have poured money into 18 fields and sectors, in which manufacturing and processing led the pack with over US$8 billion, accounting for 51.1% of the registered tally.
Foreign direct investment (FDI) commitments to Vietnam in the January – April period stood at US$15.67 billion, down 15.1% year-on-year, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.
|Data: FIA. Chart: Ngoc Thuy.|
Year to June 20, 1,418 new projects have been approved with committed capital of a combined US$8.44 billion, down 17.7% in the number of projects but up 13.9% in capital year-on-year. In addition, 526 existing projects have been injected an additional US$3.7 billion, up 26.8% in capital.
A surge in newly registered FDI in the six-month period was thanks to the liquefied natural gas (LNG) plant project worth US$4 billion in the southern province of Bac Lieu, accounting for 47.4% of fresh FDI commitments
In the fist half of this year, 4,125 projects have had nearly US$3.51 billion in capital contributed by foreign investors, up 2.6% in the number of projects but down 56.8% in value year-on-year.
Investors have poured money into 18 fields and sectors, in which manufacturing and processing led the pack with over US$8 billion, accounting for 51.1% of the registered tally. Electricity production and supply came second with US$3.95 billion, or 25.2% of the total, followed by wholesale and retail with US$1.08 billion, real estate with US$850 million.
The data shows that out of 98 countries and territories investing in Vietnam in the first six months of 2020, Singapore took the lead with US$5.44 billion, or 34.7% of the total FDI to Vietnam. Thailand came second with US$1.58 billion, while the third place belonged to China with nearly US$1.58 billion.
Among 57 cities and provinces having received FDI in the first half of the year, Bac Lieu has attracted the largest share of capital commitments with US$4 billion, or 25.5% of the total. Ho Chi Minh City came second with over US$2 billion, or 12.9% of the total, followed by Ba Ria – Vung Tau with US$1.95 billion, or 12.4%.
Besides the US$4-billion LNG plant project financed by a Singaporean investor, some other big-ticket projects in January – June include a tire manufacturing plant worth US$300 million from a Chinese investor in Tay Ninh province; an additional injection of US$138 million into a Chinese-invested radian tire production facility; an increase of US$75.2 million to Japan's Sews-components Vietnam manufacturing plant for electronic and auto parts; Hong Kong's Ce Link Vietnam 2 plant worth US$49.8 million in Bac Giang for electronic parts and products.
Vietnam gov't strives to ensure positive economic growth this year
Vietnam PM okays national high school exams amid Covid-19 resurgence
Hanoi named among TripAdvisor’s 25 popular destinations
Vietnam economy shows positive signs in 7 months: PM
Vietnam stock market needs upgrading to emerging status soon: PM
ASEAN Summit in Hanoi expected to boost intra-regional economic links
Hanoi works closely with ADB to ensure progress of urban infrastructure projects
Vietnam Airlines retakes Jetstar Pacific from Qantas
Hanoi strives to ensure safe and stable investment environment for investors