Vietnam foreign investment skyrockets in January

By Hung Le   January 28, 2019 | 10:12 pm PT
Vietnam foreign investment skyrockets in January
Workers at a factory of Samsung Electronics Vietnam. Photo by Reuters
FDI pledges for new projects, increased capital and stake acquisitions in Vietnam rose 51.9 percent year-on-year to $1.9 billion in January.

In a statement Monday, the Ministry of Planning and Investment said the manufacturing sector attracted the most interest from foreign investors, accounting for $1.19 billion or 62.4 percent of the total FDI. 

Science and technology ranked second with $185.8 million, followed by real estate with $179.1 million. 

Japanese were the top investors with nearly $364 million. South Korea and China were next with $349.1 million and $307.8 million. 

Ho Chi Minh City is the most attractive location for FDI investors in January, accounting for around 39.1 percent of the total FDI. Southern Binh Duong Province ranked second, accounting for 12.5 percent, followed by northern Hai Duong Province with 6.5 percent.

As of January 20 authorities had issued licenses for 226 new projects with a total capital of $805 million. Meanwhile, another $340.2 million was pledged for existing projects this month.

The two biggest projects were Kyoshin Vietnam’s $134.7 million investment expansion in HCMC by Japanese investors to produce, process and export electrical components and molds, and Katolec Global Logistics Vietnam’s $65 million investment for warehousing and storing goods in the northern province of Ha Nam.

Estimated FDI disbursement for the month was $1.55 billion, up 9.2 percent year-on-year.

Vietnam reported FDI disbursement of $19.1 billion last year, up 9.1 percent.             

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