Processing-manufacturing takes lead in FDI attraction

The processing and manufacturing sector took the lead in attracting foreign investment in the first three months to March 20, absorbing over US$5 billion, or 49.6%, announced the Foreign Investment Agency (FIA) at the Ministry of Planning and Investment.

Power production and distribution came second with US$3.9 billion (38.9%), followed by real estate with US$600 million, and science-technology nearly US$167 million.

Statistics of the FIA showed that foreign investors pumped US$10.13 billion in 17 sectors in the three-month period, a year-on-year increase of 18.5%.

Investment licences were granted to 234 new projects with total registered capital of US$7.2 billion, rising 30.6% against the same period last year.

Meanwhile, 161 existing projects added US$2.1 billion to their investment capital, a surge of 97.4% compared to the same time last year.

On the contrary, capital contributions and shares purchases by foreign investors were down 58.8% to stand at US$805.3 million.