Vietnam lures over 16 billion USD in foreign investment in 7 months

July 28, 2023 | 18:17

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Vietnam attracted approximately 16.24 billion USD in foreign direct investment (FDI) from the beginning of this year to July 20, up 4.5 per cent year-on-year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Vietnam lures over 16 billion USD in foreign investment in 7 months

Manufacturing and processing sector attracts the biggest FDI in seven months (Photo: baodautu.vn)

Hanoi – Vietnam attracted approximately 16.24 billion USD in foreign direct investment (FDI) from the beginning of this year to July 20, up 4.5 per cent year-on-year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

In the period, there were 1,293 newly-registered projects with a combined capital of 7.94 billion USD, up 75.5 per cent in the number of projects and 38.6 per cent in capital compared to the same period last year.

Meanwhile, 2.93 billion USD, down 42.5 per cent year-on-year, was added to 736 existing projects, up 27.1 per cent year-on-year.

The value of capital contribution and share purchase deals rose by 60.7 per cent to 4.16 billion USD.

The manufacturing and processing sector led in FDI attraction, with 10.93 billion USD. It was followed by real estate (1.61 billion USD).

In the January-July period, there were 94 countries and territories pouring capital into Vietnam, in which Singapore topped the list with 3.64 billion USD, down 15.5 per cent year-on-year. It was followed by the Republic of Korea (2.34 billion USD) and China (2.33 billion USD).

Those investors poured their capital into 52 provinces and cities in the period, with Hanoi receiving the lion's share - 2.28 billion USD, up 2.76 times year-on-year. Hai Phong came second with over 2 billion USD, up 96.5 per cent, followed by Ho Chi Minh City.

As of July 20, FDI disbursement was estimated at 11.58 billion USD, up 0.8 per cent year-on-year.

Vietnam attracts over 13.4 billion USD in FDI in H1

Total registered foreign direct investment (FDI) in Vietnam surpassed 13.43 billion USD in the first half of this year, according to the Ministry of Planning and Investment.

Expectations not yet met in real estate FDI

Although foreign direct investment into real estate reached just over $502 million in the first half of the year, down 43 per cent from 2022, it is still forecast to return to growth in the second half.

Foreign investors flock to Vietnam's real estate market

Vietnam's real estate sector has emerged as a highly desirable destination for international investors, ranking second only to the manufacturing and processing industry, with over 1,100 projects amounting to $66.4 billion of foreign investment.

Vietnam considers Samsung Vietnam success story in FDI: Deputy PM

Deputy Prime Minister Tran Luu Quang on July 21 received CEO of Samsung Vietnam Choi Joo Ho, during which he affirmed that the Vietnamese Government considers Samsung Vietnam as a success story in terms of foreign direct investment in the country.

By VNA

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