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Vietnam lures 1.9 billion USD in FDI in January

Foreign direct investment (FDI) in Vietnam witnessed a significant yearly increase of 52 percent to 1.9 billion USD in the first month of this year, according to the Ministry of Planning and Investment.
Vietnam lures 1.9 billion USD in FDI in January ảnh 1A corner of HCM City (Source: nhandan.org.vn)

Hanoi (VNS/VNA) - Foreign direct investment (FDI) in Vietnamwitnessed a significant yearly increase of 52 percent to 1.9 billion USD in thefirst month of this year, according to the Ministry of Planning and Investment.

January’s FDI disbursement also rose 9.3 percent year-on-year to 1.55 billionUSD, thoibaonganhang.vn reported, citing the ministry’s data.

Meanwhile, the capital pledged for stake acquisitions reached 761.8 million USD,up 114 percent compared to the same month last year, the data noted.

One remarkable project was Japanese Kyoshin Vietnam’s project which was allowedto raise its investment by 134.7 million USD. Based in HCM City, the factoryspecialises in manufacturing molding products and machinery.

Others included a 65-million USD logistics project funded by Katolec GlobalLogistics Vietnam from Japan in the northern province of Ha Nam and aChinese-financed textile chemical manufacturing project worth 60 million USD inthe southern province of Tay Ninh.

As per the data, foreign-invested enterprises continued to record a tradesurplus of 1.83 billion USD during the month despite modest decreases of 5.1 percentand 1.3 percent in export and import turnovers at 13.58 billion USD and 11.75billion USD, respectively.

The manufacturing and processing sector retained its crown as the mostattractive sector to foreign investors, accounting for 1.19 billion USD, or62.4 percent of total registered capital.

The science and technology sector beat the retail sector to rank second with 185.6million USD, or 9.7 percent, while the retail sector came third with 179million USD, or 9.3 percent.

Among 51 countries and territories investing in Vietnam in January, Japanremained the leading investor with nearly 364 million USD, making up 19 percentof the nation’s total FDI. It was followed by the Republic and Korea with 349million USD, or 18.3 percent, and China with 308 million USD, or 16.1 percent.

Statistics showed that foreign investors pumped cash into 39 localities. Amongthem, Ho Chi Minh City attracted the lion’s share of FDI with 746 million USD,or to 39.1 percent of the total capital pledged in the country. The southernprovince of Binh Duong and northern Hai Duong province were the runners-up with240 million USD, or 12.5 percent, and 126 million USD, or 6.5 percent,respectively.

As of January 2019, the nation is home to more than 27,640 validforeign-invested projects with capital totaling 340.1 billion USD. Over half ofthe FDI has been disbursed thus far.

According to the ministry, Vietnamese businesses invested only 1.25 million USDinto five projects abroad in January.

Their overseas investments targeted wholesale and retail and science,technology and communication sectors in Singapore, Finland, Japan and the US.-VNA
VNA
#Foreign direct investment #FDI disbursement #Vietnam #logistics project #foreign-invested enterprises #Vietnamplus #Vietnam News #Vietnam News Agency

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