FDI to Vietnam increases 28.6pc in first four months of 2019

HANOI (Xinhua) – Vietnam attracted foreign direct investment (FDI) of over USD7.4 billion in the first four months of this year, witnessing a year-on-year rise of 28.6 per cent, according to the country’s Foreign Investment Agency on Friday.

Specifically, Vietnam licensed 1,082 foreign-invested projects with total registered capital of over USD5.3 billion, posting respective year-on-year increases of 22.5 per cent and 50.4 per cent, and saw 395 operational FDI projects raise their capital by more than USD2.1 billion, down six per cent.

Among the fresh FDI of more than USD5.3 billion, 74.1 per cent were poured into the processing and manufacturing sector, 9.9 per cent into the real estate trading sector, and 16 per cent into others.

Among 51 countries and regions having fresh FDI projects in Vietnam between January and April, China was the biggest investor with more than USD1.3 billion, accounting for 24.6 per cent of the total registered capital, followed by Singapore with USD699.7 million, the agency under the Ministry of Planning and Investment said, noting that Vietnam licensed 187 Chinese-invested projects in the period.

Also in the four-month period, foreign investors spent more than USD7.1 billion buying shares or contributing capital to Vietnamese firms, 3.2 times bigger than the same period last year.

Meanwhile, Vietnam had 44 new investment projects totalling USD96 million licensed abroad and saw nine of its operational projects increase capital by USD53.5 million, said the agency.

Motorcyclists riding past residential buildings under construction at the fast growing southern part of Ho Chi Minh City. – AFP