Vietnam lures US$25.4 billion of FDI in nine months

Of the total, US$14.5 billion went to 1,844 new projects, while US$6.75 billion was added to 878 underway ones, and US$4.16 billion was worth company shared bought by foreign investors.

The MPI revealed that as of September 20, US$12.5 billion of FDI was disbursed, a rise of 13.4% over the same period last year.

Exports of the FDI sector (including crude oil) reached US$110.8 billion, up 21% year on year, and accounting for 71.9% of the country’s total export revenue. Meanwhile, the sector’s exports (excluding crude oil) hit US$108.5 billion, an increase of 20.8% over the same time in 2016.

So far this year, foreign investors invested in 18 areas, mostly in the processing and manufacturing sector with US$12.64 billion, or 49.6% of total FDI.

Production and distribution of power was the second most attractive sector, which lured US$5.37 billion (21%), followed by the wholesale and retail sector with US$1.58 billion (6.2%).

Major projects licenced in the first nine months of this year include the 1,200 MW Nghi Son 2 thermal power plant in Thanh Hoa with US$2.793 billion invested by Japan, the RoK-invested Samsung Display Vietnam in Bac Ninh with supplementary capital of US$2.5 billion, and the 1,109 MW Nam Dinh 1 thermal power plant with US$2.07 billion invested by Singapore.