Real estate FDI surges 35 pct

By Dat Nguyen June 25, 2021 | 05:00 pm PT

Apartment buildings in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.

Foreign direct investment in real estate during the first six months rose 35 percent year-on-year to $1.15 billion, ranking third in all sectors.

The manufacturing and processing sector attracted $6.98 billion, followed by electricity production and distribution, $5.34 billion, according to the Ministry of Planning and Investment.

Total FDI pledges fell 2.6 percent to $15.27 billion.

Singapore led with an investment of $5.64 billion, accounting for nearly 37 percent of the total, followed by Japan, South Korea and China.

Major projects in the first six months include liquefied natural gas power plant Long An 1 and Long An 2 funded by Singapore with a registered capital of $3.1 billion.

It was followed by O Mon 2, a thermal power plant in Can Tho City with a registered capital of $3.1 billion.

LG Display in Hai Phong City increased its investment by $750 million.