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| Workers at Giang Dien Industrial Park, Trang Bom district, the southern province of Dong Nai__Photo: VNA |
More than USD 11.07 billion in foreign direct investment (FDI) was funneled into Vietnam during January-May, up 2 percent against the same time last year, according to the Ministry of Planning and Investment (MPI)’s Foreign Investment Agency.
Of the total, USD 7.94 billion was poured into 1,227 new projects, a year-on-year increase of 50.8 percent and 27.5 percent, respectively. Meanwhile, 440 projects had their capital added with a total of over USD 2.08 billion, dropping 9.3 percent and 8.7 percent as compared to the same time last year.
Foreigners also injected more than USD 1.05 billion into 1,158 capital contribution and share purchase deals during the period, down 68.2 percent and 9.4 percent.
Among the 78 countries and territories having investment in Vietnam in the first five months, Singapore was the largest since it landed nearly USD 3.25 billion in the country, making up of 29.3 percent of the total and growing 28.2 percent year-on-year.
Foreign firms invested in 17 out of the 21 economic sectors, with the processing and manufacturing industry taking lead as it saw over USD 7.42 billion, or 67.1 percent of the total investment and up 11.9 percent against the same time last year. The realty sector came second with USD 1.98 billion in investment, rising 70.8 percent year-on-year, followed by wholesale and retail sales (USD 514.2 million), and transport and warehousing (USD 342.2 million).
The MPI said most of the FDI ran to localities with sound infrastructure, stable human resources, concerted efforts in administrative procedure reform, and active investment promotion work like Ba Ria–Vung Tau, Hanoi, Bac Ninh, Ho Chi Minh City, Dong Nai, Quang Ninh, Bac Giang, Hai Phong, Thai Nguyen, and Hung Yen.
The disbursement of FDI capital grew 7.8 percent to some USD 8.25 billion during the five-month period.
As of May 20, the country was home to 40,285 valid projects with a combined capital of USD 481.33 billion, around USD 305.43 billion of which has been disbursed so far.-(VNA/VLLF)
