July 30, 2019 | 15:52 (GMT+7)
China leads foreign investors in Vietnam in seven months
China was the biggest among the 65 countries and territories investing in new projects in Vietnam during the first seven months of 2019, data of the General Statistics Office show.
In the period, new Chinese-invested projects worth USD 1.78 billion was licensed, accounting for 21.6 percent of the total newly registered foreign direct investment (FDI).
The Republic of Korea came second with USD 1.47 billion or 17.8 percent, followed by Japan USD 1.12 billion– 13.6 percent, Hong Kong (China) USD 991 million– 12 percent, and Singapore USD 942 million– 11.4 percent.
|
|
The factory of the Chinese-invested Jasan Textile & Dyeing Vietnam Co., Ltd. in Pho Noi B Industrial Park in Yen My district, Hung Yen province |
The GSO said from the year’s beginning to July 20, about USD 20.2 billion of FDI poured into Vietnam, down 13.4 percent year on year.
Of this sum, USD 8.27 billion was channeled into 2,064 new projects, down 37.4 percent in the capital but up 24.6 percent in the project number compared to the same period last year.
Processing – manufacturing attracted most of the FDI capital, followed by real estate, and wholesale – retail and automobile – motorcycle repair.
Vietnam and the European Union recently signed a bilateral free trade agreement (EVFTA) and an investment protection agreement (EVIPA) which are believed to create huge opportunities for the Southeast Asian nation to attract more foreign investments in the time ahead.
A GSO leader said the EVIPA will promote the EU’s FDI flow into Vietnam, especially in some specialized services like finance, telecommunications, transportation and distribution.
Source: VNA