Foreign investment pledges reach US$2.8 billion in first two months

Sunday, 2016-02-28 14:30:40
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Manufacturing remained the most attractive sector for foreign investment in the first two months of 2016.
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NDO – Vietnam attracted US$2.8 billion in new and additional foreign direct investment (FDI) pledges in the first two months of 2016, representing a year-on-year increase of 135%.

As of February 20, FDI disbursement was estimated at US$1.5 billion, up 15.4% compared to the same period last year, according to the General Statistics Office of Vietnam (GSO).

Specifically, 291 FDI projects were licensed in January and February with total registered capital of over US$1.9 billion, up 96% in the number of projects and 167% in capital against 2015. Meanwhile, 137 previously-licensed projects had their capital supplemented with more than US$898 million.

Manufacturing remained the most attractive sector for investment in the first two months, accounting for over 71% of total investment pledges (US$1.995 billion), followed by investment in the entertainment industry (US$210.6 million) and other industries (US$597.8 million).

Hanoi was named the largest recipient of FDI capital in the period with 40 projects worth US$242.4 million, followed by Bac Giang province (US$206.1 million), Bac Ninh province (US$200.6 million), Ba Ria-Vung Tau province (US$157.1 million) and Ho Chi Minh City (US$155.9 million).

Singapore emerged as the largest foreign investor in Vietnam over the past two months with US$435.2 million in both new and additional pledges. Malaysia ranked second with US$232.2 million, followed by the Republic of Korea (US$202.4 million) and Japan (US$160.6 million).