Real estate FDI cuts by half over-year

October 28, 2016 | 17:23

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During ten months of this year, foreign direct investment (FDI) inflows to Vietnam have seen a decrease compared to the same period last year.

In particular, the total newly-registered and expanded capital volume in the real estate sector decreased by over half on-year.

According to the statistics published by the Ministry of Planning and Investment on October 28, Vietnam’s newly registered and expanded FDI has reached $16.43 billion in ten months of this year, equalling 91.3 per cent of last year’s figure. The newly registered and expanded FDI volume reached $982 million, less than more than half of the $2.39 billion last year.

The statistics show that between January and October, Vietnam licensed 2,061 newly-registered FDI projects with the total value of $12.26 billion and 967 expanded investment projects worth $5.35 billion. These figures make up 98.7 and 77.9 per cent of last year’s performance.

In general, 65 countries and territories were involved in 19 sectors of the Vietnamese economy so far this year. The manufacturing and processing sector ranked first in attracting foreign investment, with a total of $12.84 billion in 842 newly-registered and 691 added-capital projects, equalling 72.9 per cent of the total FDI inflow to Vietnam. The runner-up was the property sector with 46 projects at an aggregate $982.59 million.

South Korea finished as the biggest investor, with a total capital volume of $5.62 billion, making up 31.9 per cent of the FDI inflows. Japan has overtaken Singapore as the second biggest investor with $1.92 billion.

There is no change in the position of cities and provinces attracting the largest FDI capital volume. Haiphong has retained its first place in attracting FDI with $2.73 billion in 77 newly-registered and expanded capital projects, making up 15.5 per cent of the country total. The runners-up are Hanoi with $2.03 billion and Dong Nai with $1.87 billion.

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