REAL ESTATE REMAINS SECOND BIGGEST MAGNET FOR FDI

Foreign investors pledged to pour over US$2.8 billion in real estate sector in the first four months this year, accounting for 30.3 percent of the total foreign direct investment inflows.

With the above figure, the sector retained its position as the second biggest magnet for foreign direct investment after manufacturing and processing (US$6.2 billion).

The number of newly established enterprises in the real estate sector saw a year-on-year increase of 47.2 percent in the reviewed period while 845 real estate firms resumed operations, up 92 percent against the same period last year, reported the Ministry of Planning and Investment.

As of April 20, foreign direct investment inflows totalled more than US$10.8 billion, official statistics show.

The southern province of Binh Duong took the lead in attracting foreign investment with nearly US$2.35 billion, accounting for 21.7 percent, followed by the northern province of Bac Ninh (US$1.57 billion) and Ho Chi Minh City (US$1.28 billion).

Singapore was the largest investor in Viet Nam with more than US$3.1 billion, making up 28.8 percent of the total capital inflows. The Republic of Korea and Denmark ranked second and third with US$1.82 billion and US$1.32 billion, respectively.

The total realized foreign direct investment capital was estimated at US$5.92 billion, up 7.6 percent on year.

Source: VCCI