26.2 C
Ho Chi Minh City
Saturday, July 13, 2024

Vietnam attracts over US$20 billion in FDI in Jan-Sept

The Saigon Times

Must read

HCMC – Foreign investors have pledged more than US$20.21 billion for their projects in Vietnam in the year to date, a 7.7% year-on-year increase, according to statistics from the Foreign Investment Agency.

So far this year, 2,254 new foreign direct investment (FDI) projects, valued at over US$10.23 billion, have got investment registration certificates. The respective figures represent a 66.3% surge and a 43.6% rise compared to the previous year.

Around 2,539 transactions involving capital contributions have contributed over US$4.82 billion to the Vietnamese economy, up 47% against last year.

Although the total revised capital of operational projects has declined by 37.3% year-on-year to US$5.15 billion, there are signs of improvement in this trend in recent months: a 39.7% decrease in the first eight months, 42.5% in the first seven months, 57.1% in the first six months, 59.4% in the first five months, and 68.6% in the first four months, according to the Foreign Investment Agency.

Investors have allocated capital to 18 out of 21 sectors, with the processing and manufacturing sector leading in terms of foreign investment attraction, totaling US$14 billion, accounting for 69.3% of the total and increasing by 15.5% over the year-ago period.

The real estate sector comes in second with US$1.94 billion, followed by the finance-banking sector and wholesale-retail with respective pledged capital of US$1.54 billion and US$734 million.

Hanoi has secured the largest investment with nearly US$2.53 billion, accounting for 12.5% of the country’s total FDI. Haiphong follows with total pledge capital of about US$2.21 billion, followed by HCMC, Bac Giang and Binh Duong.

Singapore is Vietnam’s largest investor with US$3.98 billion, representing over 19.7% of the total, followed by China with US$2.92 billion and Japan with nearly US$2.9 billion.

More articles


Please enter your comment!
Please enter your name here

Latest articles