October 26, 2019 | 18:00 (GMT+7)
Vietnam attracts over USD 29 billion in FDI in ten months
Vietnam attracted USD 29.11 billion in foreign direct investment (FDI) in the first ten months of 2019, up 4.3 percent over the same period last year, according to the Ministry of Planning and Investment.
Of the figure, USD 12.83 billion was poured into nearly 3,094 new projects, up 25.9 percent in the number of projects year on year.
Approximately USD 5.47 billion was pledged to existing projects, just equivalent to 83.6 percent of the value from a year ago.
Foreign firms invested USD 10.81 billion in Vietnam during the period through capital contributions and share purchases, representing a year-on-year increase of 70.5 percent and accounting for 37.1 percent of the total registered capital.
Processing and manufacturing remained the most attractive sector to foreign investors during the January-October period, drawing USD 18.83 billion, making up 68.1 percent of the total FDI pledges. It was followed by property trade at USD 2.98 billion (10.2 percent of the total) and wholesale and retail.
Among the total 107 countries and territories investing inVietnam, Hong Kong (China) was the largest investor with USD 6.45 billion, followed by the Republic of Korea with USD 5.52 billion and Singapore with USD 4.21 billion.
Hanoi was the largest FDI recipient during the period with USD 6.61 billion, accounting for 22.7 percent of the total. Ho Chi Minh City came second with USD 4.96 billion (17 percent), followed by Binh Duong, Dong Nai, and Bac Ninh.
Source: VNA