Vietnam attracted over US$29 billion in FDI in the first ten months

Vietnam attracted US$29.11 billion in foreign direct investment (FDI) in the first ten months of 2019, up 4.3% over the same period last year, according to the Ministry of Planning and Investment.

Vietnam attracted over US$29 billion in FDI in the first ten months

Of the figure, US$12.83 billion was poured into nearly 3,094 new projects, up 25.9% in the number of projects year on year.

Approximately US$5.47 billion was pledged to existing projects, just equivalent to 83.6% of the value from a year ago.

Foreign firms invested US$10.81 billion in Vietnam during the period through capital contributions and share purchases, representing a year-on-year increase of 70.5% and accounting for 37.1% of the total registered capital.

Processing and manufacturing remained the most attractive sector to foreign investors during the January-October period, drawing US$18.83 billion, making up 68.1% of the total FDI pledges. It was followed by property trade at US$2.98 billion (10.2% of the total) and wholesale and retail.

Among the total 107 countries and territories investing inVietnam, Hong Kong (China) was the largest investor with US$6.45 billion, followed by the Republic of Korea at US$5.52 billion and Singapore at US$4.21 billion.

Hanoi was the largest FDI recipient during the period with US$6.61 billion, accounting for 22.7% of the total. Ho Chi Minh City came second with US$4.96 billion (17%), followed by Binh Duong, Dong Nai, and Bac Ninh.