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ASEAN investors pump $54b into Viet Nam

Update: May, 18/2015 - 08:09

The Viet Nam-Singapore Industrial Park (VSIP) in the southern province of Binh Duong. As of April 20, ASEAN countries had invested in 2,600 projects in Viet Nam, which cost US$54.43 billion. — Photo

HA NOI (VNS) — Viet Nam remains an attractive investment destination for ASEAN investors, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

As of April 20, ASEAN countries had invested in 2,600 projects in Viet Nam, which were capitalised at US$54.43 billion, the FIA said, adding that the average investment capital per project was $20.9 million.

Singapore took the lead with investments in 1,408 projects worth $33.14 billion, or 60.8 per cent of the total. Malaysia was next with 494 projects valued at $11.9 billion, or 22 per cent, while Thailand ranked third with 389 projects worth $6.8 billion, or 12.4 per cent.

During the reviewed period, the processing and manufacturing sector lured the majority of ASEAN investment with 1,001 projects capitalised at $22.14 billion, or 40.6 per cent of the bloc's total FDI registered in the country. This was followed by the real estate industry with 97 projects worth $16.6 billion or 30.5 per cent, and the construction sector with 174 projects worth $3.23 billion or 5.9 per cent.

Further, the ASEAN community invested in 56 cities and provinces. HCM City placed first in attracting ASEAN investments with 1,122 projects with capital totaling $15.04 billion, followed by Ha Noi with 413 projects worth $8.55 billion and Ba Ria-Vung Tau Province with 67 projects worth $6.19 billion. — VNS

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