Econ
FDI commitments to Vietnam hits 4-year high to US$16.74 billion
Among 55 cities and provinces having received direct foreign investment (FDI) in the first five months this year, Hanoi has attracted the largest portion of capital commitments with over US$4.79 billion, accounting for 28.6% of total commitments in the period.
Foreign investors committed to pour US$16.74 billion into Vietnam in the January – May period, marking a four-year high and up 69.1% year-on-year, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.
Disbursement of FDI projects jumped to US$7.3 billion in the five-month period, representing an increase of 7.8% year-on-year.
According to the agency, 1,363 new projects have been approved with total commitments of US$6.46 billion in the January – May period, up 38.7% from the corresponding period last year, while 505 existing projects have been injected an additional US$2.63 billion, up 5.5% from the same period last year.
During this period, 3,160 projects have had US$7.65 billion in capital contributed by foreign investors, an increase of 2.8-fold year-on-year and accounting for 45.7% of total registered capital.
Investors have invested in 19 fields and sectors, in which manufacturing and processing continued to attract substantial attention with investment capital of US$12 billion, accounting for 71.8% of total FDI approvals.
Real estate was the second most heavily invested, with US$1.13 billion, or 8.2% of total registered capital, followed by retail and wholesale with US$864 million or 5.2%.
The data shows that out of 88 countries and territories investing in Vietnam in the five-month period, Hong Kong (China) took the lead with US$5.08 billion, accounting for 30.4% of total investment. South Korea came second with US$2.62 billion or 15.7% of total investment, while the third place belonged to Singapore with US$2.09 billion or 12.5%.
China and Japan claimed the fourth and fifth places with US$2.02 billion and US$1.52 billion, respectively.
Among 55 cities and provinces having received direct foreign investment (FDI) in the first five months this year, Hanoi has attracted the largest portion of capital commitments with over US$4.79 billion, accounting for 28.6% of total investment in the period, as the city has been making efforts to smooth the investment procedures.
Ho Chi Minh City came second with US$2.78 billion or 16.6% of the total investment, followed by Binh Duong with over US$1.25 billion, accounting for 7.4% of total investment, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.
Some of the big-ticket projects in the January – May period include US$3.85 billion in capital contribution from Hong Kong -based Beerco Limited to Vietnam Beverage for a beer project in Hanoi; the US$260-million electronic manufacturing plant by Goertek (Hong Kong) located in Bac Ninh province; tire manufacturing plant worth US$280 million from a Chinese investor in Tay Ninh province and a similar project worth US$214.4 million financed by Guizhou Advance Type Investment (China) in Tien Giang province; solar power project worth US$216.7 million from Thailand’s investors in Phu Yen province.
Illustrative photo.
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According to the agency, 1,363 new projects have been approved with total commitments of US$6.46 billion in the January – May period, up 38.7% from the corresponding period last year, while 505 existing projects have been injected an additional US$2.63 billion, up 5.5% from the same period last year.
During this period, 3,160 projects have had US$7.65 billion in capital contributed by foreign investors, an increase of 2.8-fold year-on-year and accounting for 45.7% of total registered capital.
Investors have invested in 19 fields and sectors, in which manufacturing and processing continued to attract substantial attention with investment capital of US$12 billion, accounting for 71.8% of total FDI approvals.
Real estate was the second most heavily invested, with US$1.13 billion, or 8.2% of total registered capital, followed by retail and wholesale with US$864 million or 5.2%.
The data shows that out of 88 countries and territories investing in Vietnam in the five-month period, Hong Kong (China) took the lead with US$5.08 billion, accounting for 30.4% of total investment. South Korea came second with US$2.62 billion or 15.7% of total investment, while the third place belonged to Singapore with US$2.09 billion or 12.5%.
China and Japan claimed the fourth and fifth places with US$2.02 billion and US$1.52 billion, respectively.
Among 55 cities and provinces having received direct foreign investment (FDI) in the first five months this year, Hanoi has attracted the largest portion of capital commitments with over US$4.79 billion, accounting for 28.6% of total investment in the period, as the city has been making efforts to smooth the investment procedures.
Ho Chi Minh City came second with US$2.78 billion or 16.6% of the total investment, followed by Binh Duong with over US$1.25 billion, accounting for 7.4% of total investment, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.
Some of the big-ticket projects in the January – May period include US$3.85 billion in capital contribution from Hong Kong -based Beerco Limited to Vietnam Beverage for a beer project in Hanoi; the US$260-million electronic manufacturing plant by Goertek (Hong Kong) located in Bac Ninh province; tire manufacturing plant worth US$280 million from a Chinese investor in Tay Ninh province and a similar project worth US$214.4 million financed by Guizhou Advance Type Investment (China) in Tien Giang province; solar power project worth US$216.7 million from Thailand’s investors in Phu Yen province.
