HCMC – Vietnam attracted US$16.7 billion in foreign direct investment (FDI) from January to July 2021, falling over 11% compared with the same period last year, according to the Ministry of Planning and Investment.
This is the sharpest drop in FDI inflows since the fourth Covid-19 wave broke out in late April. Earlier, FDI fell 2.6% year-on-year in the first half of this year, after it edged up 0.8% in the first five months.
Data of the Foreign Investment Agency under the Ministry of Planning and Investment showed that among the total FDI of US$16.7 billion, US$10.13 billion came from 1,006 newly-registered projects, increasing 7% year-on-year.
Meanwhile, 561 existing projects added US$4.54 billion, falling 3.7% compared with the same period last year. Capital contribution and share purchases by foreign investors dropped 56% to some US$2 billion.
There were 86 countries and territories investing in Vietnam in January-July. Singapore was the biggest investor with nearly US$6 billion, followed by Japan with US$2.54 billion and South Korea with US$2.2 billion.
Foreign investors invested in 57 cities and provinces. The Mekong Delta province of Long An was the largest recipient of FDI with US$3.58 billion, followed by HCMC with US$1.8 billion. Binh Duong came third with US$1.33 billion.