Vietnam attracts USD22.63 billion of FDI in eight months

Saturday, 31/08/2019 16:35
Vietnam recorded USD22.63 billion of foreign direct investment (FDI) registered in the first eight months of 2019, equivalent to 92.9 percent of the figure in the same period last year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

Administrative reform to attract more investment

Of the sum, USD9.13 billion was poured into 2,406 new projects, down 32.3 percent and up 25.4 percent year on year, respectively.

 

Foreign investors poured USD22.63 billion into Vietnam in the first eight months of 2019 (Photo: VNA)
 

Nearly USD4 billion was added to 908 existing projects, down 28.6 percent and up 23.4 percent, respectively, the FIA said, noting that during the eight months of 2019, there weren’t any projects with big additional capital like in the same period last year.

Meanwhile, foreign investors registered USD9.51 billion to contribute capital to or buy shares of domestic companies, surging 80 percent from a year earlier and accounting for 42 percent of the total FDI capital in the eight months.

Among the 19 sectors receiving FDI, processing-manufacturing attracted up to USD15.74 billion, accounting for 69.6 percent of the total. It was followed by real estate (USD2.31 billion – 10.2 percent) and wholesale-retail (nearly USD1.19 billion – 5.2 percent).

There were 103 countries and territories investing in Vietnam between January and August.

Hong Kong (China) took the lead with USD5.63 billion, equivalent to 24.9 percent of the total capital. It was followed by the Republic of Korea (USD3.48 billion – 15.4 percent) and Singapore (USD3.27 billion – 14.5 percent).

Data show that FDI was channeled into 56 provinces and centrally-run cities. Hanoi topped the list with USD5.66 billion, or 25 percent of the total capital. The second and third largest FDI destinations were Ho Chi Minh City (USD3.86 billion – 17 percent) and Binh Duong province (USD1.95 billion – 8.6 percent)./.

CPV/VNA

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