Eight-month FDI attraction hits 19.54 billion USD

Vietnam attracted 19.54 billion USD worth of FDI as of August 20, down 13.7 percent year-on-year, according to the Ministry of Planning and Investment.

Eight-month FDI attraction hits 19.54 billion USD

Vietnam attracted 19.54 billion USD worth of FDI as of August 20, down 13.7 percent year-on-year.

There were 1,797 new FDI projects licensed, with registered capital totalling 9.73 billion USD, down 25.3 percent in project numbers but up 6.6 percent in value compared to the same period last year. The increase was attributed to the inclusion of the Bac Lieu LNG-to-power project, with investment capital of 4 billion USD, or 41.1 percent of the total.

Meanwhile, 718 existing projects were permitted to raise their investment by more than 4.87 billion USD in total, a 22.2 percent increase year-on-year.

Foreign investors also outlaid 4.93 billion USD on share purchases or capital contributions during the period, down 48.2 percent.

Capital was channelled into 18 sectors, in which manufacturing and processing took the lead after receiving over 9.3 billion USD, or 47.7 percent of the total. It was followed by power production and distribution, with over 4 billion USD, real estate 2.87 billion USD, and wholesale and retail 1.21 billion USD.

Singapore was the largest source of FDI, with a committed 6.54 billion USD, accounting for 33.5 percent of the total. The Republic of Korea and China followed, with 2.97 billion USD and 1.75 billion USD, respectively, then Japan, Thailand, and Taiwan (China).

Of the 59 localities receiving FDI in the first eight months of this year, the Mekong Delta province of Bac Lieu ranked top with 4 billion USD. Hanoi was second with 2.86 billion USD and HCM City third with 2.62 billion USD, followed by Ba Ria-Vung Tau and Binh Duong provinces and Hai Phong city.

(Source: VNA)