Illustrative image (Source: VNA)
Japanese investors poured US$4.138 billion into a project on building a smart city in Hanoi’s Dong Anh district.
Foreign investors invested a total of over US$20 billion in 1,366 new projects and 507 existing ones as well as in contributing capital and buying shares in domestic company in the reviewed period.
With US$5.06 billion, the Republic of Korea was Vietnam’s second biggest investor, followed by Singapore with US$2.39 billion.
During January-June, foreign investors poured their capital into 55 provinces and cities, in which Hanoi ranked first with US$5.87 billion. The capital city was followed by Ho Chi Minh City (US$3.68 billion), and Ba Ria-Vung Tau province (US$1.93 billion).
Manufacturing-processing industry continued to attract the most foreign direct investment (FDI) in Vietnam in the first half of 2018, with US$7.91 billion, accounting for 38.9% of the total registered capital.
It was followed by real estate, with US$5.54 billion, and the wholesale and retail sector with US$1.5 billion, making up 27.3% and 7.4% of the total, respectively.
To date, Vietnam has attracted nearly 26,000 projects with a registered capital of US$326 billion. Disbursement is estimated at US$180 billion.
Foreign investment accounts for 25% of the country’s total investments and contributes 20% of GDP. Last year, the sector contributed nearly US$8 billion to the State budget, 14.4% of total revenue.
At present, 58% of foreign investments focus on processing and manufacturing, generating half of industrial production value.