Pandemic drags down FDI attraction
Vietnam had attracted a total of 26.43 billion USD in FDI this year as of November 20, equal to 83.1 percent of the figure in the same period last year, according to a recent report from the Ministry of Planning and Investment.
The global economy has been battered by the coronavirus pandemic, the ministry noted, while investors have been unable to travel due to restrictions.
Foreign investors channeled capital into 19 fields, with the largest amount, of over 12.7 billion USD, going to manufacturing and processing. Power generation and distribution followed, with more than 4.9 billion USD from foreign investors, then real estate with nearly 3.8 billion USD and wholesale and retail sales with 1.5 billion USD.
FDI came from 109 countries and territories, of which Singapore took the lead with nearly 8.1 billion USD, accounting for 30.6 percent of the total. The Republic of Korea followed, with 3.7 billion USD, then China with 2.4 billion USD.
Foreign investors invested in 60 cities and provinces nationwide. The Mekong Delta’s Bac Lieu province led the way, with one mega project worth 4 billion USD, accounting for 15.1 percent of total capital. HCM City and Hanoi were second and third, with 3.8 billion USD and 3.2 billion USD, respectively, making up 14.4 percent and 12.2 percent of the total./. VNA