Northwest draws $1.73b in FDI
Northwest draws $1.73b in FDI
Viet Nam's Northwestern region attracted $1.73 billion in 106 foreign direct investment (FDI) projects in 2014, said the Foreign Investment Agency under the Ministry of Planning and Investment.
The manufacturing and processing sector took the lead in luring FDI with $90.5 million in 68 projects, accounting for 78 per cent of the total investments. It was followed by the mining and entertainment sectors with $151.5 million and $86 million, accounting for 27.5 per cent and 5 per cent, respectively.
Among 18 nations and territories investing in the region, China ranked first with $890 million in 40 projects, making up 51.4 per cent of the total investments. It was followed by Japan and Australia with $147.8 million and $136 million , respectively. Lao Cai province saw the highest number of foreign investment with 35 projects worth $875 million , accounting for 50.5 per cent of the total investments. The Northwestern region consists of Lao Cai, Hoa Binh, Son La, Yen Bai, Lai Chau and Dien Bien provinces.
