US attracts most Vietnamese investment in three months

March 30, 2020 | 15:19

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Vietnam invested 49.3 million USD abroad in the first three months of 2020, with the US being the biggest recipient.

us attracts most vietnamese investment in three months

A transaction office of Vietcombank in Laos (Photo: Vietcombank)

During the period, the country secured investment certificates for 27 projects worth 22.9 million USD, while six others were permitted to add 26.4 million USD.

Accommodation and food services attracted 14.7 million USD, accounting for 29.9 percent of the total investment by Vietnamese firms. They were followed by scientific and technological activities (12 million USD, 24.4 percent) and processing – manufacturing (9 million USD, 18.3 percent).

The US was the top recipient of Vietnamese capital in the first quarter with 20.1 million USD, or 40.8 percent of the total. Singapore ranked second with 12.8 million USD, accounting for 26 percent, and Cambodia stood third with 9.5 million USD, making up 19.3 percent.

Meanwhile, Vietnam granted investment licenses to 758 new projects worth 5.5 billion USD between January and March, up nearly 45 percent year on year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

More than 230 existing projects registered to adjust their capital with an additional 1.07 billion USD in the January-March period, equivalent to 82 percent of the same period last year.

Meanwhile, the value of capital contributions and shares purchased by foreign investors in the country reached almost 2 billion USD, equivalent to 34.4 percent of the same time in 2019.

VNA

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