Covid hits Vietnam FDI

Some $14.6 billion went into new projects, $6.4 billion into existing ones and $7.5 billion into mergers and acquisitions, according to the General Statistics Office.

Of the new investment, over 49 percent went into manufacturing and nearly 35 percent into power generation and distribution.

Of the 79 countries and territories that invested in Vietnam this year, Singapore led with $6.2 billion followed by mainland China (10.8 percent), Taiwan (10.3 percent), Hong Kong (8.7 percent), and South Korea (8.2 percent).

Major investments include $4 billion in a liquefied natural gas-fired power plant in the Mekong Delta province of Bac Lieu by a Singaporean company, and $1.39 billion in the Long Son Petrochemicals in the southern province of Ba Ria-Vung Tau by its Thai owner.

In 2019 FDI had risen by 7.2 percent to $38 billion, a 10-year high.