Vietnam has received an estimated $1.55 billion in foreign direct investment (FDI) disbursements during the first two months of this year, up 3.3 percent from a year ago, the government said Thursday.
FDI pledges, additional funds for existing projects and investments in Vietnamese stocks, totaled $3.4 billion in the two-month period, a rise of 21.5 percent from the same period last year, the Planning and Investment Ministry's foreign investment department said in a report.
Foreign direct investment is a major source of foreign exchange for Vietnam, which along with overseas remittances help improve the country's trade balance.
In the first two months, the manufacturing and processing industries have attracted $2.5 billion of FDI pledges and additional funds, or 73.4 percent of the total, followed by the real estate sector and the wholesale/retail sector, the report said.
Singapore remained the top investor with $881.6 million, followed by China and South Korea.
FDI has gone mostly to Vietnam’s manufacturing and processing industries so far in 2017, which aligns with the trend observed since 2012, based on government data.
In 2016 a combined $15.5 billion worth of FDI pledges and additional funds were poured into these areas, up from $15.2 billion the previous year.
The industrial and construction sectors ruled the roost back in 2011 after taking over from real estate.
The country received a record $15.8 billion in disbursements in 2016.