January-May Foreign Investment Pledges Hit Four-Year Record

1:26:30 PM | 27/5/2019

Foreign direct investment (FDI) pledges to Vietnam in the first five months of 2019 reached U.S.$16.74 billion, the highest figure in the last four years, according to the Foreign Investment Agency (FIA).

Data as of May 25th showed it was up 69.1% compared with the same period from 2018.

During the January-May period, 1,363 new projects worth U.S.$6.46 billion were granted investment licenses while U.S.$2.63 billion were pledged to 505 existing projects.

Foreign investors also poured U.S.$7.65 billion in Vietnam in the form of capital contributions and share purchases.

FDI disbursement during the period rose 7.8% year on year to U.S.$7.3 billion.

According to the FIA, manufacturing remained the most attractive sector with U.S. $12 billion, accounting for 71.8% of total FDI pledges.

Property trading came second with U.S. $1.138 billion while wholesale and retail attracted U.S.$864 million to rank third.

The January-May period saw Hong Kong (China) as the largest foreign investor in Vietnam with U.S.$5.08 billion, followed by the Republic of Korea and Singapore with U.S.$2.62 billion and U.S.$2.09 billion respectively.

A breakdown of localities showed that Hanoi was the largest recipient of foreign investment with U.S.$4.79 billion. Ho Chi Minh City came second with U.S.$2.78 billion and the province of Binh Duong came third, with U.S.$1.25 billion invested.

NDO