Sunday, December 4 2016

VietNamNews

Foreign investment up by 7.6% this year

Update: May, 27/2015 - 09:14

With above $1.1 billion, South Korea continued to be Viet Nam's leading source of FDI, making up 25.7 per cent of the total FDI registered in the country. — Photo vtv

HA NOI (VNS) — The disbursement of foreign direct investment (FDI) reached US$4.95 billion in the first five months of this year, a year-on-year rise of 7.6 per cent.

According to the latest report of the Foreign Investment Agency under the Ministry of Planning and Investment, foreign investors pumped $4.29 billion into Viet Nam during the reviewed period, equal to 78 per cent of the figure for last year.

Of the sum, $2.95 billion went to 592 newly-licensed projects, while the remainder went to 210 operational projects that raised investment capitals.

Among the largest projects were a fibre production unit, which is a Turkish investment in southern province Dong Nai and is valued at $600 million, and a South Korean wind power plant worth $120 million, which is being developed in southern province Tra Vinh. They also included a $100-million factory, which is run by Korean subsidiary KMW Viet Nam Co., which manufactures telecommunications, radio engineering, and lighting equipment in Ha Nam Province.

According to the report, the manufacturing and processing sector remained the most attractive area to foreign investors as it lured $3.15 billion, accounting for 73.4 per cent of the total FDI in the January-May period.

Estate trading came next with $461.5 million, while wholesale and retail ranked third with $234.12 million.

With above $1.1 billion, South Korea continued to be Viet Nam's leading source of FDI, making up 25.7 per cent of the total FDI registered in the country. It was followed by British Virgin Islands ($663.3 million, or 15.4 per cent), Turkey ($660.2 million, or 15.3 per cent), and Japan ($431.7 million, or 10 per cent). —VNS

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