Tuesday, September 22 2020


FDI hits $3.4b in first two months

Update: February, 24/2017 - 10:30
A worker at the Hà Nội-based Vietnam Stanley Electric Co Ltd, a joint venture with Japan. — VNA/VNS Photo Danh Lam
Viet Nam News

HÀ NỘIForeign direct investment (FDI) in Việt Nam reached US$3.4 billion in the first two months of the year, up 21.5 per cent, compared to the same period last year, the Foreign Investment Agency’s latest statistics has revealed.

Up to 313 new foreign-invested projects, with a capital of more than $2 billion, received licences during the period, up 6.5 per cent year-on-year. Meanwhile, 137 existing projects received approvals to expand their capital by an additional $760 million in total, equal to 84.5 per cent of the same period in 2016.

In the period between January and February, foreign investors channelled a total of $619 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 $1.55 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 Việt Nam’s largest source of FDI with $881.6 million, accounting for 25.8 per cent of the nation’s total FDI. China and South Korea ranked second and third with $721 million and $637 million, respectively.

Up to 47 localities nation-wide received FDI in two months. Of them, southern Bình Dương province took the lead with $791 million or 23.2 per cent of the total FDI registered in the country. It was followed by the capital city with $519 million and southern economic hub of HCM City with $464.2 million.

Among large-scale foreign-invested projects during the period were a $285 million Việt Nam-Singapore Industrial Park 3, being developed in Bình Dương and a China-invested polyester and fiber manufacturing plant in Tây Ninh Province worth $220 million. — VNS

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