Vietnam sees sharp increase in FDI capital inflow

Saturday, 30/10/2021 11:05
As of October 20, foreign investment capital in Vietnam totaled 23.74 billion USD, a year-on-year increase of 1.1%, reported the Ministry of Planning and Investment (MPI).

Of this, newly-registered capital and additional capital rose sharply.

The processing and manufacturing industry leads the way in attracting FDI in the 10 months of 2021. (Photo: VNA)

According to the Ministry, newly-registered capital since the beginning of the year reached more than 13 billion USD, a year-on-year rise of 11.6%, and increased capital was over 7.09 billion USD, a year-on-year increase of 24.2%.

The impressive increase is due 3 large projects licensed and adding capital; including LNG Long An Power project, USD 3.1 billion; LD Display Hai Phong, increasing capital by 2.15 billion USD; and O Mon II Thermal Power Plant, 1.31 billion.

In terms of the number of new projects, manufacturing and processing, wholesale and retail, and science-technology attracted the most, accounting for a respective 33.1%, 27.8% and 16% of the total.

Currently, 97 countries and territories pour capital into Vietnam, of which Singapore takes the lead with a total investment of 7.51 billion USD, accounting for 31.9% of the total. The Republic of Korea ranked second with 3.42 billion USD, accounting for 14.6%. China made third place with 2.17 billion USD, accounting for 9.2%. They were followed by Japan, Thailand and Taiwan (China).

Among 58 cities and provinces receiving FDI, the southern province of Long An topped the list with 3.68 billion USD, ahead of Ho Chi Minh City with more than 2.73 billion USD and the northern city of Hai Phong with 2.72 billion USD./.