Nearly $700 million in foreign capital invested into real estate

Jun 27th at 16:37

27-06-2014 16:37:01+07:00

In the first half of 2014, there were 16 new real estate projects, with an increase of nearly 64 percent of total registered capital compared to the same period in 2013.

According to the Foreign Investment Department (Ministry of Planning and Investment), within the first six months of the year, foreign investors registered to invest US$6.85 billion in Vietnam, equivalent to 64.7 percent over the same period of 2013. It is estimated that the capital disbursed reached $5.75 billion.

The agency said the processing and manufacturing industry attracted the highest number of foreign-invested projects, with 326 projects. The total new capital for the industry was $4.8 billion, accounting for 70.2 percent of total capital.

The construction sector ranked second with total new capital of $465.4 million, followed by real estate with 16 new projects and total new capital of $692.3 million. Compared to the same period in 2013, foreign capital in the real estate sector increased by $270 million.

During this period, foreign investors invested in 43 provinces and cities in the country. HCM City took the lead with $886.3 million of newly registered capital.

Exports from the foreign-invested sector (including crude oil) in this period reached $47.82 billion, up 16.6 percent year on year. Imports reached $39.29 billion, up 11.4 percent compared to the same period in 2013. The foreign invested sector obtained a trade surplus of $8.52 billion.

Of the 41 countries investing in Vietnam, South Korea is the largest investor with total newly registered capital of $1.55 billion, accounting for 22.6 percent of total foreign investment in Vietnam, followed by Hong Kong (China) and Japan.

vietnamnet