Over US$18 billion in FDI poured into Vietnam in 11 months

Thursday, 2016-11-24 16:08:38
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The US$1.5 billion LG Display Hai Phong Project, invested by the Republic of Korea’s LG Display Co. Ltd., is one of the largest FDI projects in the northern port city.
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NDO – Vietnam attracted more than US$18 billion in both new and additional foreign direct investment (FDI) pledges in the first 11 months of 2016, equivalent to 89.5% compared to the same period of 2015.

As of November 20, FDI disbursement had reached US$14.3 billion, representing a year on year increase of 8.3%, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

From January to November, Vietnam saw 2,240 newly licensed projects worth over US$13 billion, accounting for 96.1% of the 2015 figure, while another 1,075 arrivals of projects registered to increase investment capital by US$5.075 billion, equivalent to 76.1% against last year.

The FDI sector enjoyed a trade surplus of US$21.245 billion (including crude oil) and US$19.148 billion (excluding crude oil) in the 11-month period. It exported US$114.076 billion worth of goods (including crude oil), up 8.6% year on year and making up 71.5% of the total export revenue, while importing US$92.831 billion worth of commodities, up 3.6% against 2015 and accounting for 59.2% of the total import revenues.

Foreign investors poured capital into 19 sectors, with the manufacturing industry named as the largest FDI recipient with US$13.41 billion in both new and additional pledges, claiming 74.1% of the total figure for the period. Real estate came in second place with US$740.93 million, accounting for 4.1% of the total.

The Republic of Korea was the largest foreign investor in Vietnam in the first 11 months of this year with US$5.29 billion (29.2% of the total), followed by Singapore with US$2.05 billion (11.3%) and Japan with US$1.95 billion (10.8%).

Hai Phong city attracted the most FDI capital from January to November with US$2.74 billion (15.2% of the total), followed by Binh Duong with US$1.93 billion (10.7%), Dong Nai with US$1.87 billion, Hanoi with US$1.84 billion and Ho Chi Minh City with US$1.32 billion.