VIET NAM LURES NEARLY US$5.45 BILLION IN FDI IN Q1

Viet Nam attracted US$5.45 billion in foreign direct investment (FDI) in the first quarter of 2023, equal to 61.2 percent of the same period last year, the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment reported.

Of the above figure, foreign investors pledged to pour US$3 billion in 522 newly-licensed projects, down 5.9 percent in terms of capital volume, and up 62.1 percent in terms of the number of projects.

Foreign investors committed to increasing investment capital by over US$1.2 billion in 228 existing projects, a decrease of 70.3 percent against the same period last year.

Total volume of capital contribution and share purchase by foreign investors slightly increased by 3.7 percent to nearly US$797.9 million.

Manufacturing and processing sector lured the lion's share of foreign investment with over US$4 billion, making up 73 percent of total foreign investment inflows.

It was followed by real estate with US$766 million, or 14.1 percent. Wholesale and retail industry and warehouse transportation were the runners-up with US$276 million and US$151 million, respectively.

In the reviewed period, disbursed capital witnessed a year-on-year decrease of 2.2 percent to US$4.3 billion.

Singapore was the top source of capital pledges in January-March period with US$1.69 billion, accounting for 31 percent of the total. China came next with over US$552 million or 10.1 percent while Taiwan ranked third with US$477 million or 8.8 percent.

Source: VCCI