FDI disbursement up 9.2 percent in eight months

Foreign investment was poured into 17 sectors, mainly in the processing and manufacturing industry with 10.72 billion USD, or 44 percent of the total registered investment (Illustrative image. Source: VNA)

The country granted investment licences to 1,918 new projects with a total registered capital of 13.48 billion USD, up 0.2 percent year-on-year, and allowed 736 existing projects to increase their capital to a total of 5.58 billion USD, equal to 87.2 percent year-on-year.

From January to August, foreign investors contributed capital and purchased shares of 5.28 billion USD, a year-on-year increase of 50.9 percent.

The FDI sector exported 110.3 billion USD worth of goods, including crude oil, showing a year-on-year rise of 13.4 percent and making up nearly 70.9 percent of the country’s total export turnover.

Foreign investment was poured into 17 sectors, mainly in the processing and manufacturing industry with 10.72 billion USD, or 44 percent of the total registered investment.

Other attractive fields were real estate, and wholesale and retail with 5.9 billion USD and 1.87 billion USD respectively, accounting for 24.2 percent and 7.6 percent of the total investment.

Ninety-seven countries and territories are currently running investment projects in Vietnam. Japan tops the list with 7 billion USD, making up 28.8 percent of the total investment; followed by the Republic of Korea with 5.16 billion USD (21.2 percent); and Singapore with 3.47 billion USD (14 percent).

Overseas firms invested in 59 cities and provinces, of which Hanoi attracted the largest investment total of 5.93 billion USD, or 24.4 percent of total investment.

Ho Chi Minh City came second with 4.42 billion USD (18.2 percent), and Ba Ria-Vung Tau ranked third with 2.17 billion USD (8.9 percent).

Major foreign investment projects include the smart city project worth 4.1 billion USD in Hanoi invested by Japan’s Sumitomo Corporation; the polypropylene (PP) plant and liquefied petroleum gas (LPG) warehouse worth 1.2 billion USD in Ba Ria-Vung Tau invested by the Republic of Korea’s Hyosung Corporation; and the Laguna Company Ltd project invested by Singapore in the central province of Thua Thien-Hue with an additional capital of 1.12 billion USD. /.

VNA