Vietnam reports three-year-high foreign investment

By Hung Le   March 25, 2019 | 11:58 pm PT
Vietnam reports three-year-high foreign investment
A woman welds a table at a furniture factory outside Hanoi, Vietnam. Photo by Reuters/Kham
FDI pledges for new projects, increased capital and stake acquisitions surged by 86.6 percent year-on-year to $10.8 billion in the first quarter.

This was the highest in the last three years. According to a report by the Ministry of Planning and Investment, $3.82 billion will go into new projects, $1.3 billion into existing ones and the remaining $5.68 billion for the acquisition of local companies.

Almost 78 percent of the FDI will go into manufacturing, 7.2 percent into property and 3.5 percent into technology.

Of 74 countries and territories planning to invest, Hong Kong accounted for $4.4 billion or 40.7 percent of the total amount. Singapore was second with $1.46 billion (13.5 percent) and South Korea followed with $1.3 billion (12.2 percent).

The investments will be mainly concentrated in Hanoi and HCMC, accounting for 38.4 and 14.5 percent, with the southern province of Binh Duong following with a distant 5.8 percent.

Estimated FDI disbursement for the first quarter was $4.12 billion, up 6.2 percent year-on-year.

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

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