It was followed by real estate, with USD 5.54 billion, and the wholesale and retail sector with USD 1.5 billion, making up 27.3 percent and 7.4 percent of the total, respectively.
According to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment, in the period, FDI poured into Vietnam exceeded USD 20 billion, while USD 8.37 billion was disbursed, up 5.7 percent and 8.4 percent from the same period last year respectively.
Foreign investors invested in 1,362 new projects, added capital to 507 existing ones and contributed capital and bought shares in domestic companies 2,749 times.
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Foreign investors drawn to Vietnam’s manufacturing-processing |
Japan ranked first among 87 nations and territories investing in Vietnam in the first half, with USD 6.47 billion, followed by the Republic of Korea (USD 5.06 billion), and Singapore (USD 2.39 billion).
During January-June, foreign investors poured their capital into 55 provinces and cities, in which Hanoi ranked first with 5.87 billion USD. The capital city was followed by Ho Chi Minh City (USD 3.68 billion), and Ba Ria-Vung Tau province (USD 1.93 billion).
According to Deputy Minister of Planning and Investment Nguyen The Phuong, after 30 years of Vietnam opening its door to foreign investors, the FDI sector has become an important part of the economy.
To date, the country has attracted nearly 26,000 projects with a registered capital of USD 326 billion. Disbursement is estimated at USD 180 billion.
Foreign investment accounts for 25 percent of the country’s total investments and contributes 20 percent of GDP. Last year, the sector contributed nearly USD 8 billion to the State budget, 14.4 percent of total revenue.
At present, 58 percent of foreign investments focus on processing and manufacturing, generating half of industrial production value.
Source: VNA