Jan 30, 2019 / 08:43

Foreign investment keeps flowing to Vietnam amid US-Sino trade spat

The Hanoitimes - Foreign direct investment (FDI) commitments in January totaled US$1.9 billion, up 51.9% year-on-year, according to the Planning and Investment Ministry.

Disbursement of FDI projects in Vietnam in January jumped to US$1.55 billion, representing an increase of 9.2% year-on-year as the US-China trade spat continue to unnerve global investos, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.
Illustrative photo.
Illustrative photo.
According to the agency, 226 new projects have been approved with total investment capital of US$805 million year to January 20, up 81.9% year-on-year, while 72 existing projects have injected an additional US$340.2 million, down 25.5% year-on-year. 

Meanwhile, 489 projects have had US$761.8 million in capital contributed by foreign investors, up 114% 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$1.19 billion, accounting for 62.4% of total capital approvals.

Science and technology was the second most heavily invested, with US$185.8 million, or 9.7% of total registered capital, followed by real estate with US$179.1 million or 9.3%.  

Among 51 countries and territories that have invested in Vietnam this year, Japan takes the lead with US$364 million, accounting for 19% of total investment. South Korea comes second with US$349.1 million or 18.3% of total investment, while the third place belongs to China with US$307.8 million or 16.1%.

Among 39 cities and provinces having received foreign investment, Ho Chi Minh City attracted the largest portion of registered capital with US$745.7 million, or 39.1% of total investment, followed by Binh Duong with US$240 million or 12.5%, and Hai Duong with US$125.7 million or 6.5%.  

The biggest-ticket projects in January include Katolec Global Logistics Vietnam with total investment capital of US$65 million by Japan’s Katolec Corporation; the US$64.89-million Sews-Components Vietnam II factory by Japanese investor located in Hung Yen province; Kyoshin project with additional fund of US$134.7 million from Japanese investor in Ho Chi Minh City, among others.