Vietnam Attracts US$12.33 Billion Worth of FDI in Four Months

2:20:25 PM | 28/4/2020

 Foreign direct investment (FDI) flows into Vietnam reached US$12.33 billion in the first four months of 2020, equivalent to 84.5% of the value recorded in the same period last year, according to the Ministry of Planning and Investment.

Disbursement dropped by 9.6% year-on-year to US$5.15 billion, as shown from data as of April 20.

During the period, Vietnam licensed 984 foreign-invested projects with a total registered capital of US$6.78 billion, up 26.9%, mainly thanks to a US$4 billion liquefied natural gas (LNG) power plant in the southern province of Bac Lieu.

Additional pledges to existing projects saw a sharp increase of 45.6% to over US$3.07 billion, while foreign investors’ capital contributions and share purchases reached about US$2.48 billion, equivalent to only 34.7% of the 2019 figure.

Among the 18 industries that received foreign investment between January and April, manufacturing was the most attractive with approximately US$6 billion, followed by power production and distribution at US$3.9 billion, wholesale and retail at US$776 million, and real estate at US$665 million.

Bac Lieu province remained the largest recipient of FDI capital in the period with US$4 billion (32.4% of the total), while Ba Ria-Vung Tau province and Ho Chi Minh City ranked second and third with US$1.9 billion (15.4%) and US$1.31 billion (10.6%), respectively.

Singapore made the largest investment in Vietnam in the first four months with US$5.07 billion, followed by Thailand with US$1.46 billion and Japan with US$1.16 billion.

In terms of number of projects, the Republic of Korea ranked first with 265 projects, while China, Japan and Singapore filled the next three positions with 135, 116 and 81 projects, respectively.

Source: NDO