Actual FDI in Vietnam up 8% to over US$9 billion in Jan-Jun
FDI commitments in the January – June period totaled US$18.47 billion, down 9.2% year-on-year.
Disbursement of FDI projects totaled US$9.1 billion in the six-month period, representing an increase of nearly 8% year-on-year, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.
Illustrative photo.
|
According to the agency, 1,723 new projects have been approved with total commitments of US$7.41 billion in the first six months, down 37.2% from the corresponding period last year, while 628 existing projects have been injected an additional US$2.94 billion, down 33.8% from the same period last year.
During this period, 4,020 projects have had US$8.12 billion in capital contributed by foreign investors, up 98.1% 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$13.15 billion, accounting for 71.2% of total FDI approvals.
Real estate was the second most heavily invested, with US$1.32 billion, or 7.2% of total registered capital, followed by retail and wholesale with US$1.05 billion or 5.7%.
The data shows that out of 95 countries and territories investing in Vietnam in the six-month period, Hong Kong (China) took the lead with US$5.3 billion, accounting for 28.7% of total investment. South Korea came second with US$2.73 billion or 14.8% of total investment, while the third place belonged to Singapore with US$2.2 billion.
Among 55 cities and provinces having received direct foreign investment (FDI) in the first six months this year, Hanoi has attracted the largest portion of capital commitments with over US$4.87 billion, accounting for 26.4% of total investment in the period.
Ho Chi Minh City came second with US$3.09 billion or 16.7% of the total investment, followed by Binh Duong with over US$1.37 billion, accounting for 7.4% of total investment.
Some of the big-ticket projects in the January – June 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.
14:43, 2024/11/18
Aircraft manufacturer Embraer seeks comprehensive aviation partnership with Vietnam
The Vietnamese leader urges the aircraft manufacturer to collaborate on technology transfer, airport construction and operation, research, and investment in Vietnam.
21:55, 2024/10/22
Better links with FDI firms to support Hanoi businesses
Hanoi will continue to focus on quality projects, especially with partners such as Japan, the United States, and Europe to boost technology transfer.
15:24, 2024/09/24
Vietnam calls for more US investment in innovation, hi-tech
The Vietnamese leader called on relevant agencies to resolve any challenges faced by investors and enhance the investment climate to encourage greater US investment in Vietnam.
14:13, 2024/09/23
Vietnamese leader urges Boeing to build production facility in Vietnam
Boeing is committed to continuing to support the development of Vietnam's aviation ecosystem, focusing on aviation infrastructure, human resources training, airport construction, and aircraft maintenance facilities.
14:38, 2024/09/17
Foreign capital pouring into Vietnam's real estate market
Experts are optimistic that the 2024 Land Law, once enacted, will help resolve legal bottlenecks and attract more FDI.
16:27, 2024/08/24
Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
- Growing number of FDI firms moving to Vietnam
- Vietnam Gov’t committed to facilitating Adani Group’s US$2-billion port project
- Vietnam Railway proposes US$87 million for Hanoi–Dong Dang railway upgrade
- 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