US$6.75 billion in FDI disbursed in five months
The disbursement of foreign direct investment (FDI) in the first five months of 2018 was estimated at US$6.75 billion, up 9.8% year-on-year.
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| Mechanic production at Japanese-invested company in the northern port city of Hai Phong |
As many as 393 existing projects registered to increase capital by a total of nearly US$2.5 billion in January-May, raising total newly-licensed and increased-capital foreign investment to about US$7.15 billion in the five months, an annual decline of 30.8%.
The FDI sector has become an important part in Vietnam’s economy, contributing about 25 percent to social investment capital and 20% to gross domestic product, according to the Ministry of Planning and Investment.
Close to 58% of total FDI capital has went to the processing and manufacturing industries, helping Vietnam increase the value of products and make domestic economic sectors more competitive.
In 2017, the FDI sector made up 72% of total export value and generated about 3.5 million direct jobs and 5 million indirect jobs.
Vietnam remained an attractive destination for foreign investors in 2017 with total registered FDI capital hitting a record of US$35.88 billion, up 44.4 percent against last year.
The most attractive sectors were manufacturing-processing industries, electricity production and distribution and real estate.
Among 115 countries and territories investing in Vietnam in 2017, Japan topped the list, with US$9.11 billion, making up 25.4% of the total.
It was followed by the Republic of Korea with US$8.49 billion or 23.7% of the FDI, and Singapore with US$5.3 billion or 14.8%.
