FDI INFLOWS REACH OVER US$19 BLN IN EIGHT MONTHS

Foreign investment inflows to Viet Nam totalled US$19.12 billion in the first eight months, equal to 97.9 percent of the same period last year, according to the Ministry of Planning and Investment.

Of the above figure, foreign investors pledged to pour US$11.33 billion in newly-licensed 1,135 projects, a year-on-year increase of 16.3 percent in terms of capital volume.

Foreign investors also committed to investment additional US$5 billion in 639 existing projects, down 11 percent ​​in number of projects and up 2.3 percent in capital over the same period.

There were 2,720 instances of capital contribution and share purchases by foreign investors, with US$2.81 billion, down 43.4 per cent in number and 43.4 per cent in capital on-year.

The processing and manufacturing industry took the lead among 18 sectors in attracting foreign investment with nearly US$9.3 billion, making up 48.4 percent, It was followed by electricity production and distribution US$5.5 billion, real estate US$1.6 billion and retail sales US$734 million.

Among 92 nations and territories investing in Viet Nam, Singapore ranked first with US$6.2 billion, accounting for 32.5 percent, followed by Japan US$3.2 billion and the Republic of Korea US$2.4 billion.

The southern province of Long An was the leading locality in attracting FDI with the registered capital valued at US$3.6 billion, making up 18.9 percent. Ho Chi Minh City and the southern province of Binh Duong occupied the second and third positions with US$2.2 billion and US$1.7 billion, accounting for 11.4 percent and 8.7 percent, respectively.

Meanwhile, disbursed volume over the last eight months rose by 2 percent to at US$11.58 billion, an encouraging signal amidst complex developments of the COVID-19 pandemic.

Source: VGP