Wednesday, October 23 2019

VietNamNews

VN’s foreign investment rebounds

Update: October, 01/2019 - 12:00

 

An aerial view shows buildings in Hà Nội. The capital remained the top destination for FDI by attracting $6.15 billion in the first nine months. — Photo thuongtruong.com.vn

HÀ NỘI — The inflow of foreign investment capital (FDI) into Việt Nam experienced a slight increase of 3.1 per cent to US$26.16 billion in the first nine months of this year after a fall of 7 per cent seen in the first eight months, according to the General Statistics Office.

The country attracted nearly 2,760 new foreign-invested projects with a total registered capital of $10.9 billion, up 26 per cent in the number of projects but down 22 per cent in the level of capital over the same period last year. 

It also allowed more than 1,030 existing projects to raise their investment capital by $4.7 billion, a year-on-year reduction of 14 per cent.

Foreign capital to buy stakes in Vietnamese companies rose by 82 per cent year-on-year to $10.4 billion, according to the office, adding that FDI disbursement also jumped by 7.3 per cent to $14.2 billion.

Foreign investors focused mainly on the manufacturing and processing sector with $18.09 billion, equivalent to 70 per cent of the nation’s total FDI. It was followed by real estate with $2.77 billion (11 per cent) and the wholesale and retail industry with $1.4 billion (5.4 per cent).

From January to September, Hong Kong retained its crown as Việt Nam’s leading foreign investor, pouring in nearly $5.89 billion, accounting for 65 per cent of the total FDI pledged to the country.

South Korea followed with $4.62 billion, making up 18 per cent of the total FDI, followed by Singapore with $3.77 billion or equivalent to 15 per cent. Japan surpassed mainland China to rank fourth with more than $3 billion.   

The capital city remained the top destination for FDI by attracting $6.15 billion in the first nine months, making up 24 per cent of the total registered capital. HCM City and the southern province of Bình Duơng were the runners-up with $4.52 billion (17 per cent) and $2.52 billion (10 per cent).

According to the office, foreign-invested businesses recorded a nine-month export turnover of $134.7 billion, up 5 per cent year-on-year, accounting for nearly 70 per cent of the country’s total exports. — VNS

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