BUSINESS Updated at 10:38:36 11/27/2019  (Views:  381 )
Vietnam attracts US$31

Vietnam attracts US$31.8 billion in FDI in eleven months

Vietnam attracted US$29.11 billion in foreign direct investment (FDI) in the first eleven months of 2019, up 3.1% over the same period last year, according to the Ministry of Planning and Investment.

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Of the figure, US$4.68 billion was poured into nearly 3,478 new projects, up 28.2% in the number of projects year on year.

Approximately US$5.87 billion was pledged to existing projects, just equivalent to 79.3% of the value from a year ago.

Foreign firms invested US$11.24 billion in Vietnam during the period through capital contributions and share purchases, representing a year-on-year increase of 47.1% and accounting for 35.4% of the total registered capital.

Processing and manufacturing remained the most attractive sector to foreign investors during the January-November period, drawing US$21.56 billion, making up 67.8% of the total FDI pledges. It was followed by property trade at US$3.31 billion (10.4% of the total) and wholesale and retail.

Among the total 107 countries and territories investing in Vietnam, Hong Kong (China) was the largest investor with US$6.69 billion, followed by the Republic of Korea at US$5.73 billion and Singapore at US$4.47 billion.

Hanoi was the largest FDI recipient during the period with US$6.82 billion, accounting for 21.5% of the total. Ho Chi Minh City came second with US$5.48 billion (17.2%), followed by Binh Duong, Dong Nai, and Bac Ninh.

Source: NDO

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