Vietnam: Ten-month FDI grows 37% to $28 billion

HANOI — Some US$28.24 billion in foreign direct investment (FDI) was poured into Vietnam between January and October, representing a year-on-year increase of 37.4 per cent.

This was stated by the Foreign Investment Agency under the Ministry of Planning and Investment. Of the figure, $16.3 billion was put into 2,070 new projects (up 32.9 per cent), $7.27 billion (up 35.9 per cent), into 1,001 operational projects that required additional investment capital and $4.67 billion into 4,156 capital contribution and share purchase projects.

Foreign investment was concentrated in 19 fields, with the processing and manufacturing industry ranking first with $13.75 billion, accounting for 48.7 per cent of total investment. Electricity production and distribution came second with $5.63 billion, followed by real estate with $2.04 billion.

As of October 20, FDI projects disbursed $14.2 billion, 11.8 per cent higher than the same period last year. 

Exports of FDI firms (including crude oil) reached $125.49 billion, posting an increase of 22.1 per cent from the corresponding period last year and accounting for 7.2 per cent of total export turnover.

Their imports rose 29.2 per cent to $107.85 billion, accounting for 62.5 per cent of the country’s total import turnover. In the first 10 months of the year, the FDI sector saw a trade surplus of $17.63 billion including crude oil and $15.24 billion excluding crude oil.

With $7.62 billion, South Korea continued to be the largest investor among the 112 countries and territories investing in Vietnam, making up 27 per cent of total FDI, followed by Japan which invested $6.07 billion, or 21.5 per cent of total FDI, and Singapore with $5.59 billion.

Foreign businesses provided capital to 59 provinces and cities nationwide. HCM City took the lead in FDI attraction with $5.03 billion, followed by Bac Ninh at $3.19 billion and Thanh Hoa at $3.16 billion.

Some large projects were given investment licences in the January-October period, such as Nghi Son 2 BOT Thermo-power Plant with $2.79 billion investment in Thanh Hoa Province, Samsung Display Vietnam project in Bac Ninh Province that added $2.5 billion and Nam Dinh 1 BOT Thermo-power Plant with $2.07 billion investment. — VNS