Haiphong becomes third largest FDI recipient in year so far

LG Innotek Haiphong factory in Trang Due industrial park

According to statistics published by the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment, in the first ten months of 2018, foreign investors registered a total of $27.91 billion to register new and added capital as well as to contribute capital and purchase shares, up 6.3 per cent over the corresponding period of 2017.

Notably, as of October 20, 2018, the country granted investment certificates to 2,458 new projects, with $15.03 billion of newly registered capital, down 7.8 per cent on-year, and there were 954 capital adjustments worth $6.54 billion, 90 per cent of the figure from last year.

Meanwhile, overseas players spent $6.34 billion on acquiring shares in Vietnamese companies through 5,342 deals, shooting up 35.8 per cent on-year.

Manufacturing and processing continues to be the most appealing sector by attracting $13.27 billion from January to October, accounting for 47.5 per cent of total investment inflows. It was followed by real estate trading with $5.1 billion (20.4 per cent) and retail and wholesale with $2.38 billion (8.5 per cent).

Japan remained the leading foreign investor by pouring $7.68 billion into Vietnam during the period, making up 27.5 per cent of the total registered FDI in the country. South Korea ranked second with $6.5 billion (23.2 per cent), with Singapore coming next with $3.9 billion (13.9 per cent).

According to the FIA, foreign investors are present in 59 cities and provinces. The capitol lured in the largest share with $6.1 billion, accounting for 21.9 per cent. The southern economic hub of Ho Chi Minh City and Haiphong were the runners-up with $4.6 billion (16.5 per cent) and $2.4 billion (8.6 per cent).