Foreign investment in Vietnam grows 7.6%

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Vietnam workerForeign direct investment (FDI) into Vietnam reached $4.95 billion in the first five months of this year, a year-on-year growth of 7.6 per cent, the country’s Foreign Investment Agency under the Ministry of Planning and Investment said in a recently released report.

Of the total, $2.95 billion were invested into 592 newly-licensed projects, while the remainder went to 210 operational projects that raised fresh capital.

Among the largest projects were a fibre production unit, a Turkish investment in the southern province of Dong Nai which is valued at $600 million, and a South Korean wind power plant worth $120 million, which is being developed in the southern province of Tra Vinh. Another project is a $100-million factory operated by the Vietnam branch of Korean technology and engineering firm KMW, which manufactures telecommunications, radio engineering and lighting equipment in Ha Nam Province.

According to the report, the manufacturing and processing sector remained the most attractive sectors to foreign investors at an FDI value of $3.15 billion, accounting for 73.4 per cent of total FDI in the January-May period. Estate trading came next with $461.5 million, while wholesale and retail ranked third with $234.12 million.

With over $1.1 billion in FDI, South Korea continued to be Vietnam’s leading source of FDI, making up 25.7 per cent of total FDI registered in the country. It was followed by British Virgin Islands ($663.3 million, or 15.4 per cent), Turkey ($660.2 million, or 15.3 per cent) and Japan ($431.7 million, or 10 per cent).

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Reading Time: 1 minute

Foreign direct investment (FDI) into Vietnam reached $4.95 billion in the first five months of this year, a year-on-year growth of 7.6 per cent, the country’s Foreign Investment Agency under the Ministry of Planning and Investment said in a recently released report.

Reading Time: 1 minute

Vietnam workerForeign direct investment (FDI) into Vietnam reached $4.95 billion in the first five months of this year, a year-on-year growth of 7.6 per cent, the country’s Foreign Investment Agency under the Ministry of Planning and Investment said in a recently released report.

Of the total, $2.95 billion were invested into 592 newly-licensed projects, while the remainder went to 210 operational projects that raised fresh capital.

Among the largest projects were a fibre production unit, a Turkish investment in the southern province of Dong Nai which is valued at $600 million, and a South Korean wind power plant worth $120 million, which is being developed in the southern province of Tra Vinh. Another project is a $100-million factory operated by the Vietnam branch of Korean technology and engineering firm KMW, which manufactures telecommunications, radio engineering and lighting equipment in Ha Nam Province.

According to the report, the manufacturing and processing sector remained the most attractive sectors to foreign investors at an FDI value of $3.15 billion, accounting for 73.4 per cent of total FDI in the January-May period. Estate trading came next with $461.5 million, while wholesale and retail ranked third with $234.12 million.

With over $1.1 billion in FDI, South Korea continued to be Vietnam’s leading source of FDI, making up 25.7 per cent of total FDI registered in the country. It was followed by British Virgin Islands ($663.3 million, or 15.4 per cent), Turkey ($660.2 million, or 15.3 per cent) and Japan ($431.7 million, or 10 per cent).

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