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Thursday, June 20, 2024

Vietnam attracts US$16 billion in FDI in Jan-July

The Saigon Times

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HCMC – Fresh foreign direct investment (FDI) approvals in Vietnam in the year to July 20 had expanded 4.5% year-on-year to US$16.24 billion, according to the Foreign Investment Agency.

During the first seven months, 1,627 new projects got investment registration certificates, with total pledged capital of US$7.94 billion. The figures are up by 75.5% in volume and 38.6% in value against the previous year.

Additionally, 736 operational FDI projects adjusted up their investment capital by 27.1% year-on-year. Their total capital was US$4.16 billion, 42.5% lower than in the same period last year.

Foreign investors also contributed capital and acquired shares, amounting to US$4.14 billion, up 60.7% compared to last year.

In July alone, total pledged capital reached over US$2.8 billion, an 8.9% increase from June and an 85.7% surge compared to the same period last year. This marks the first increase in FDI capital after experiencing consecutive declines in the first six months of the year.

In January-July, the processing and manufacturing industries attracted the largest amount of foreign capital, at US$10.93 billion, accounting for 67.3% of the total investment.

The real estate sector came in second, with US$1.61 billion, making up 9.9% of the total.

Following closely, the finance-banking and science-technology sectors were third and fourth, with US$1.53 billion and US$737.6 million, respectively.

In the period, 94 countries and territories invested in Vietnam. Among them, Singapore takes the lead with nearly US$3.64 billion, representing 22.4% of the total.

South Korea and China came in second and third, with US$2.34 billion and US$2.33 billion, respectively.

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