Saturday, 25/02/2017 07:04 (GMT+7)
Foreign direct investment (FDI) in Vietnam reached USD3.4 billion in the first two months of the year, up 21.5 percent, compared to the same period last year, the Foreign Investment Agency’s latest statistics has revealed.
A worker at the Hanoi-based Vietnam Stanley Electric Co Ltd, a joint venture with Japan (Photo: VNA)
Up to 313 new foreign-invested projects, with a capital of more than USD2 billion, received licences during the period, up 6.5 percent year-on-year. Meanwhile, 137 existing projects received approvals to expand their capital by an additional USD760 million in total, equal to 84.5 percent of the same period in 2016.
In the period between January and February, foreign investors channelled a total of USD619 million into local businesses by purchasing their stocks, four times higher than last year’s figures for the corresponding period, according to the data.
The period also saw a slight increase in FDI disbursement at USD1.55 billion.
FDI capital was poured into 18 industries and sectors in two months. The manufacturing and processing industry remained the most attractive area to foreign investors, followed by the real estate, wholesale, and retail sales.
Singapore remained Vietnam’s largest source of FDI with USD881.6 million, accounting for 25.8 percent of the nation’s total FDI. China and the Republic of Korea ranked second and third with USD721 million and USD637 million, respectively.
Up to 47 localities nation-wide received FDI in two months. Of them, southern Binh Duong province took the lead with USD791 million or 23.2 percent of the total FDI registered in the country. It was followed by the capital city with USD519 million and southern economic hub of HCM City with USD464.2 million.
Among large-scale foreign-invested projects during the period were a USD285 million Vietnam-Singapore Industrial Park 3, being developed in Binh Duong and a China-invested polyester and fiber manufacturing plant in Tay Ninh province worth USD220 million./.
CPV/VNA