FDI down by 62 pct

By Thuy Tien   January 29, 2021 | 06:47 pm PT
FDI down by 62 pct
Workers assemble cars in a factory of Ford in the northern province of Hai Duong. Photo courtesy of Ford Vietnam.
Foreign direct investment pledges fell by 62.2 percent in January to $2.02 billion, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Of this, $1.3 billion is going into 47 new projects.

The investment is in 14 sectors, led by the manufacturing and processing industry with a total of $1.54 billion. Property was second with $179 million, followed by transportation and storage ($111.9 million) and agriculture, forestry and fishing ($60.4 million).

As of January 20, $1.5 billion has been disbursed, the agency said.

The Foreign Investment Agency said the foreign investments have been made in several major projects, including a $270-million plant to manufacture laptops and tablets in northern Bac Giang Province by Taiwan’s FuKang Technology Company and $312 million in a Chinese radial tire production facility in southern Tay Ninh Province.

Foreign direct investment pledges fell by 25 percent 2020 to $28.5 billion as the Covid-19 pandemic prevented air travel and dampened investor sentiment.

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