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Singapore leads among top investors in Vietnam in January
Translated by Thu Minh 09:41, 2017/02/07
In the first month of this year, Vietnam attracted 1.423 billion USD in both new and additional foreign direct investment (FDI) and Singapore was the largest foreign investor, according to the General Statistics Office.
Vietnam drew 1.423 billion USD in both new and additional foreign direct investment (FDI) in January, up 23% year on year, according to the General Statistics Office.
The Foreign Investment Agency estimated that disbursement was estimated at 850 million USD, an 6.3% increase over the same month last year, helping to lessen pressure on the nation’s balance of payments and exchange rate.
 
Illustrative image.
Illustrative image.
Vietnam receives many foreign investment commitments, but only a fraction of them are translated into actual funding, so the Agency expected that actual foreign investment in Vietnam is on the rise.
FDI pledges in the first month of 2017 mainly flowed to the manufacturing sector, with 834.9 million USD or more than two thirds of total investment, followed by US$297.4 million in the property sector.
In the month, the southern province of Binh Duong was the largest recipient of FDI, attracting over 666 million USD. Bac Giang and Ba Ria – Vung Tau came in second and third with 159.5 million USD and 108.7 million USD, respectively.
The two economic hubs of HCM City and Hanoi received respective pledges of 75.2 million USD and 30 million USD.
In January, Singapore was the biggest foreign investor, accounting for nearly one third of the total investment in Vietnam, followed by the Republic of Korea and China.
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