Foreign capital still heads to manufacturing, processing
The total amount of foreign investment poured into Vietnam this year to September 20 reached 21.2 billion USD, equivalent to 81.8 percent of the same period last year, reported the Ministry of Planning and Investment.
Of the sum, 13.76 billion USD were disbursed, or 96.8 percent of last year’s same period.
Of the amount, 10.36 billion USD was invested in 1,947 new projects, down 5.6 percent in value and 29.4 percent in project number annually.
As many as 798 projects added a combined over 5.11 billion USD to their investment capital, down 23 percent year-on-year in project number but up 6.8 percent in value.
Up to 5.73 billion USD were spent on shares, equal to 55.1 percent of the same period last year.
Foreign investors invested in 18 sectors, with manufacturing and processing absorbing about 9.9 billion USD, or 46.6 percent of the total investment. It was followed by electricity production and distribution with more than 4.3 billion USD, or 20.6 percent, real estate with around 3.2 billion USD and wholesale and retail 1.3 billion USD.
Among 111 countries and territories investing in Vietnam, Singapore took the lead with 6.77 billion USD, making up 32 percent of the total, followed by the Republic of Korea (RoK) with 3.17 billion USD, China 1.87 billion USD, Japan, Thailand and Taiwan (China).
In term of project number, the RoK came first with 499 projects, ahead of China with 271 projects, Japan 209 and Singapore 173.
Foreign capital was poured into 60 cities and provinces. The Mekong Delta province of Bac Lieu was the top destination with a liquefied natural gas project worth 4 billion USD, or 18.8 percent of the total investment. It was followed by Ho Chi Minh City with 3.25 billion USD, Hanoi 2.92 billion USD, Ba Ria-Vung Tau, Binh Duong and Hai Phong.
On the number of new projects, Ho Chi Minh City topped the list with 719 projects, followed by Hanoi with 409 and Bac Ninh 119./.VNA
Vietnam needed to improve its infrastructure in order to attract more FDI, a webinar heard on Monday.
Vietnam has become one of the world’s fastest growing economies since the country first opened up to foreign trade and investment more than three decades ago,