FDI disbursement hits over US$15 billion in ten months
Capital disbursement of foreign direct investment (FDI) projects stood at US$15.1 billion as of October 20, up 6.3% year-on-year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
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From January to October, foreign investors’ capital contribution and share purchase were valued at US$6.3 billion, tantamount to 98.8% of the same period last year.
Foreign investment was poured into 18 sectors, with the processing and manufacturing industry absorbing the most - US$13.2 billion, or 47.5% of total registered capital.
Other attractive fields were real estate, and wholesale and retail with US$5.7 billion and US$2.3 billion respectively, accounting for 20.4% and 8.5% of total investment.
As many as 105 countries and territories have made investment in Vietnam in the period. Japan tops the list with US$7.6 billion, making up 27.5% of total investment; followed by the Republic of Korea with US$6.5 billion (23.4%); and Singapore with US$3.9 billion (14%).
The FIA said foreign firms invested in 59 cities and provinces nationwide, of which Hanoi attracted the largest share with US$6.15 billion, or 22% of total investment. Ho Chi Minh City came second with US$4.6 billion (16.5%), and Ba Ria-Vung Tau ranked third with US$2.4 billion (8.8%).
Major projects in the reviewed period are a smart city project worth over US$4.1 billion in Hai Boi commune, in Hanoi’s Dong Anh district invested by Japan’s Sumitomo Corporation; and a polypropylene (PP) plant and liquefied petroleum gas (LPG) warehouse worth US$1.2 billion in Ba Ria-Vung Tau invested by the RoK’s Hyosung Corporation. Meanwhile, the Singapore-invested Laguna resort project in Thua Thien Hue received an addition of US$1.12 billion.
The FDI sector exported US$143.4 billion worth of goods in the period, including crude oil, showing a year-on-year rise of 13.2% and making up nearly 72.2% of the country’s total export turnover.
