Turkey ranks second among foreign investors in Vietnam
(VOV) - Turkey abruptly became the second largest foreign investors in Vietnam for the first four months of this year as a result of its US$660 million investment project in southern Dong Nai province’s Nhon Trach industrial zone.
Turkish-invested firm Hyosung Istanbul Tekstil in Nhon Trach IZ accounted for 17.7% of the total foreign direct investment (FDI) capital.
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According to the Foreign Investment Agency under the Ministry of Planning and Investment, the total new and supplementary FDI capital during the January-April period hit US$3.722 billion, down 23% from last year’s same period.
In the reviewed period, the number of newly-registered and additional FDI projects rose by 14.9% and 19.3%, respectively.
Particularly, 76% of the total FDI came from the processing and manufacturing sectors.