VN draws $4.85b as FDI inflow reduces

VN draws $4.85b as FDI inflow reduces

Viet Nam has attracted US$4.85 billion in foreign direct investment (FDI) in the first four months of the year, equivalent to 59 per cent of what it attracted during the same period last year.

The figure released by the Ministry of Planning and Investment's Foreign Investment Agency also showed that of the total, $3.32 billion went into 390 newly-licensed projects, while 140 existing projects added $1.62 billion to their capital.

The manufacturing and processing sectors took the lead in attracting FDI with 204 new projects at $3.6 billion, accounting for 74.3 per cent of the total.

The real estate sector ranked second with seven projects with a total investment of $392.3 million, accounting for 8.1 per cent share, followed by the construction sector with $237 million (4.9 per cent) and health care and social support sector ($225.93 million).

While FDI levels slowed down, the country's FDI disbursement reached $4 billion during the January-April period, representing a year-on-year increase of 6.7 per cent.

Of the 36 countries and territories investing in Viet Nam in this period, South Korea was the largest investor, with both newly-registered and additional capital totalling $1.12 billion, followed by Japan and Singapore with $531 and $479.1 million, respectively.

The southern Province of Binh Duong topped the list of FDI destinations, attracting $792.9 million, accounting for 16.3 per cent of the country's total, followed by HCM City ($749.1 million) and Dong Nai ($537.8 million).

The Thang Long Cement Factory with investments made by Indonesia in the northeastern Quang Ninh Province has been the largest FDI project so far this year, with a total registered capital of $352.6 million. It was followed by the Dai An Viet Nam - Canada hospital project worth $225 million in northern Hai Duong Province.

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