FDI commitments to Vietnam down 15% to US$15.67 billion in H1
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.
- Travel enthusiasts flock to Hanoi Tourism Festival 2023
- Vietnamese Gov’t eases regulations on vehicle inspection
- Hanoi partners with Kien Giang to attract tourists to Phu Quoc Island
- EuroCham Vietnam has new chairman
- Chinese tourists impressed by Hanoi's must-see attractions
- International partners keen on Vietnam's renewable energy sector
- Hanoi improves travel experience by digitizing tourist sites
- Vietnam advised to pilot large-scale wind power projects
- PM urges to expand visa exemption for international tourists
- 2023 - a year of high-quality startups in Vietnam
Hanoi seeks UNESCO’s support in preserving cultural heritage
Hanoi patriots recount memories of captivity
Fascinating look at Hanoi in black and white photo collection
Travel enthusiasts flock to Hanoi Tourism Festival 2023
Effective public investment as a top political mission: PM
Hanoi named among Vietnam's most beautiful places
Hanoi among cities with most trees in the world
2023 - a year of high-quality startups in Vietnam
Vietnam 12th International Photo Contest winners announced