The manufacturing-processing industry absorbs more than half (57.9 percent) of the foreign direct investment (FDI) inflow into Vietnam over the past years to May 2018.
Workers at an electronic spare parts manufacturing company (Illustrative image. Source: VNA)
Hanoi (VNA) – The manufacturing-processing industry absorbs more than half (57.9 percent) of the foreign direct investment (FDI) inflow into Vietnam over the past years to May 2018, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
As of the end of May this year, aggregated foreign capital poured into the industry amounted to 198.13 billion USD, out of the total FDI value of nearly 323 billion USD in 25,691 valid foreign-invested projects.
Real estate came second, attracting 51.84 billion USD (16.1 percent).
It was followed by the power-gas-water production and distribution with 21.71 billion USD.
The agency reported that in the first five months of 2018, Vietnam attracted 9.9 billion USD of FDI, equivalent to 81.6 percent of that in the same period last year.
Of which, the processing and manufacturing industry lured 5.18 billion USD, or 52.3 percent, while real estate enjoyed 1.07 billion USD, and retail and wholesale sector attracted 1.02 billion USD.
The foreign-invested sector continues to account for a major share of the country’s export turnover. It earned 66.66 billion USD from exports (including crude oil) in the January-May period this year, or 71.6 percent of the national figure, representing a 15 percent increase year on year.
Excluding crude oil, the sector’s export value was 65.74 billion USD, up 15.8 percent on a yearly basis and accounting for 70.6 percent of the national figure.
The sector imported 52.85 billion USD in the period, nearly 58.9 percent of the national figure and an increase of 6.6 percent from the same period last year.
ᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚ In total, the FDI sector posted a trade surplus of 13.81 billion USD (crude oil included) and 12.89 billion USD without crude oil in the first five months of 2018.-VNA
The foreign direct investment (FDI) sector has become an important part in Vietnam’s economy, with remarkable contributions to the country’s socio-economic development.
The processing and manufacturing industry has been the most attractive sector for foreign investors this year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
Ho Chi Minh City was the most attractive destination in FDI attraction in the first five months of this year, with 2.39 billion USD, or 24.2 percent of total investment in the period, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
The Republic of Korea (RoK) has been the biggest investor among 86 countries and territories investing Vietnam so far this year, with total investment of 2.63 billion USD, accounting for 26.5 percent of total foreign direct investment (FDI) the country has attracted in the reviewed period.
Hanoi drew in more than 5.9 billion USD in FDI in the first half of 2018, making it the country’s largest six-month FDI attractor for the first time in three decades, said Chairman of the municipal People’s Committee Nguyen Duc Chung on June 17.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Vietnam is now positioning itself as a global manufacturing hub with a diversified export portfolio, improved product quality, and enhanced price competitiveness.
Workers at an electronic spare parts manufacturing company (Illustrative image. Source: VNA)
