Vietnam receives highest-ever FDI inflow in 2017

By Staff reporters   December 21, 2017 | 08:58 pm PT
Vietnam receives highest-ever FDI inflow in 2017
A Vietnamese employee in the painting shop at an automotive plant in the northern province of Hai Duong. Photo by AFP/Hoang Dinh Nam
Actual foreign investment is on track to hit $17 billion, up 7.6 percent from last year’s record.

Vietnam’s actual foreign direct investment reached an estimated $17 billion this year, which is the highest annual amount ever recorded by the country, according to official figures.

Officials from the Ministry of Planning and Investment said at a conference last week that Vietnam has enjoyed its best year for foreign investment.

While the actual inflow has set a new all-time record by beating last year’s $15.8 billion, FDI pledges in 2017 also hit a 10-year high of $35 billion.

“Vietnam has made drastic efforts to improve its investment environment,” Do Nhat Hoang, director of the foreign investment department at the ministry, said to explain the success at a conference on December 15.

By the end of November, 24,580 FDI projects worth $317 billion had been registered in Vietnam, according to official figures. Nearly 60 percent of the funds were poured into the processing and manufacturing industries, 16.6 percent into real estate, and 6.6 percent into the utility supply sector.

South Korea is now the country’s biggest investor of more than 100 countries and territories, with registered capital worth $57.5 billion, followed by Japan and Singapore.

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