Republic of Korea tops foreign investment in first half of 2016

The Republic of Korea was the largest foreign investor in Vietnam in the first six months of the year at US$3.99 billion, equivalent to 35.37% of total direct foreign investment.

Samsung plans to open a research and development centre in Hanoi.
Samsung plans to open a research and development centre in Hanoi.

According to the Foreign Investment Agency, Japan and Singapore came second and third with US$1.229 billion and US$1.129 billion poured into Vietnam respectively.

In the first six months of 2016, total new and additional pledges were US$11.284 billion, up 105.4% over the same period last year, while disbursement rose 15.1% to reach US$7.25 billion.

Foreign investment was poured into 19 sectors, in which manufacturing remained the most attractive, drawing more than US$8 billion, equivalent to 71.4% of total pledges.

Real estate came second with US$604.8 million, while sci-tech ranked third with US$562.3 million.

Major projects granted licences in the first half of 2016 were LG’s display manufacturing facility in Hai Phong, Samsung’s research and development centre in Hanoi and a wind farm in Tra Vinh province.