Foreigners pour US$11 bln in local projects, firms in 4 months
Foreign investors have poured US$10.95 billion into new and operational FDI projects and to buy stakes in local companies in the first four months of 2017, up 40.5 % from the same period last year, according to the Foreign Investment Agency (FIA).
Of the amount, about US$4.88 billion was drawn into 734 new FDI projects during the period, down 4 percent year on year, while US$4.36 billion landed into 345 existing ones, a jump of 241.8%, the FIA under the Ministry of Planning and Investment said.
The foreign investors paid US$1.35 billion to purchase stakes in local firms, up 106.8%.
By April 20, FDI projects in Vietnam disbursed US$4.8 billion, a year-on- year increase of 3.2%.
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| Processing and manufacturing sector drew a majority of the total FDI, approximately 70%, with US$7.36 billion. |
FDI firms dominated Vietnamese exports with US$44.05 billion worth of commodities and services, including crude oil, during the period, accounting for 71.82% of the country’s total export turnover.
Excluding crude oil, exports by FDI companies reached US$43.12 billion, up 15.8% year on year.
Processing and manufacturing drew a majority of the total FDI, approximately 70%, with US$7.36 billion.
It was followed by mining (US$1.28 billion) and retail and wholesale (US$546.68 million).
The Republic of Korea ranked first out of 83 countries and territories investing in Vietnam with US$4.05 billion. Japan came in second with US$1.85 billion, followed by Singapore with US$1.1 billion.
Northern Bac Ninh province led in attracting FDI with US$2.7 billion, accounting for 25.51% of the total amount. It was followed by southern Binh Duong and Kien Giang provinces, US$1.53 billion and US$1.28 billion, respectively.
