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Foreign investors pour $8.55b into VN in Q1

Update: March, 24/2020 - 12:31

 

Japan-invested Sumi Việt Nam Wiring System in Hà Nam Province. Foreign investors poured a total of US$8.55 billion in Việt Nam from January 1 to March 30. - VNA/VNS Photo Đại Nghĩa

HÀ NỘI — Foreign investors poured a total of US$8.55 billion in Việt Nam from January 1 to March 30, equivalent to 79.1 per cent of the same period last year, according to the latest report by the Foreign Investment Agency.

Of the figure, $5.5 billion was registered to invest in 758 new projects. The rest was poured to increase capital of existing projects, which was worth $1.07 billion and to purchase shares worth nearly $2 billion.

The realised capital was estimated at $3.85 billion, 6.6 per cent lower than the first quarter of 2019.

As of March 20, Việt Nam had 31,665 valid projects with a total registered capital of $370 billion. The accumulated realised capital of FDI projects totalled $215.6 billion, equalling 58.3 per cent of the total value of registered capital.

The Republic of Korea was the largest foreign investor in Việt Nam with 8,702 valid projects with a total accumulated registered capital of $68.57 billion.

Japan came second with 4,494 projects worth $59.7 billion, followed by Singapore with 2,484 projects worth $54 billion.

HCM City, Hà Nôi, Bình Dương, Đồng Nai and Bà Rịa – Vũng Tàu were the top destinations for FDI which altogether attracted 21,572 projects worth $179.26 billion.

FDI was mainly poured into manufacturing and processing industry with $216.7 billion in registered capital and real estate business with $58.6 billion.

The novel coronavirus (COVID-19) pandemic was forcing global producers to rearrange their production network to reduce dependence on China, according to Võ Trí Thành, Director of the Institute for Brand and Competitiveness Strategy.

Thành said that it was providing Việt Nam with opportunities to become a hub for FDI inflow of the region and the world.

According to the Ministry of Planning and Investment’s forecasts, Việt Nam expected to attract $38.6 billion FDI in 2020 if the COVID-19 pandemic was over in the first quarter of this year and $38.2 billion if the pandemic lasted to the second quarter, compared to $38 billion FDI attracted in 2019. Việt Nam targeted to attract $39.6 billion FDI in 2020 when there was no COVID-19.

In the first quarter of this year, Việt Nam invested $49.3 million abroad, equalling 41.1 per cent of the same period of 2019. — VNS

 

 

 

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