Actual FDI in Vietnam up 6.63% to over US$11 billion in Jan-July
FDI commitments in the January – July period totaled US$20.2 billion, down 13.45% year-on-year.
Disbursement of FDI projects in Vietnam totaled US$10.55 billion in the seven-month period, representing an increase of 6.63% year-on-year, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.
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According to the agency, 2,064 new projects have been approved with total commitments of US$8.27 billion in the first seven months, while 791 existing projects have been injected an additional US$3.42 billion.
During this period, 4,387 projects have had US$8.52 billion in capital contributed by foreign investors, up 78% year-on-year and accounting for 44% 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$14.46 billion, followed by real estate with US$1.5 billion, and retail and wholesale with over US$1 billion.
The data shows that out of 95 countries and territories investing in Vietnam in the seven-month period, Hong Kong (China) took the lead with US$5.44 billion. South Korea came second with US$3.13 billion, while the third and fourth places belonged to Singapore and mainland China with US$960 million and US$440 million, respectively.
In terms of fresh projects in Vietnam in the first seven months of 2019, China was the largest investor pouring US$1.79 billion into 364 projects, followed by South Korea with 600 projects worth US$1.47 billion and Japan with US$1.12 billion in 257 projects.
Some of the big-ticket projects in the January – July 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; and a solar power project worth US$216.7 million from Thailand’s investors in Phu Yen province.
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Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
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- Vietnam’s North-South high-speed railway to be designed for 350km/h
- Vietnamese gov’t urged to address impact of global minimum tax
- Samsung plans drastic investment increase in Vietnam over next three years