ASEAN investors pump US$54b into Vietnam

15:13 | 18/05/2015 Economy

Vietnam remains an attractive investment destination for ASEAN investors, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

ASEAN investors pump US$54b into Vietnam

As of April 20, ASEAN countries had invested in 2,600 projects in Vietnam, which were capitalised at US$54.43 billion, the FIA said, adding that the average investment capital per project was US$20.9 million.

Singapore took the lead with investments in 1,408 projects worth US$33.14 billion, or 60.8 % of the total. Malaysia was next with 494 projects valued at US$11.9 billion, or 22 %, while Thailand ranked third with 389 projects worth US$6.8 billion, or 12.4 %.

During the reviewed period, the processing and manufacturing sector lured the majority of ASEAN investment with 1,001 projects capitalised at US$22.14 billion, or 40.6 % of the bloc's total FDI registered in the country. This was followed by the real estate industry with 97 projects worth US$16.6 billion or 30.5 %, and the construction sector with 174 projects worth US$3.23 billion or 5.9 %.

Further, the ASEAN community invested in 56 cities and provinces. HCM City placed first in attracting ASEAN investments with 1,122 projects with capital totaling US$15.04 billion, followed by Hanoi with 413 projects worth US$8.55 billion and Ba Ria-Vung Tau Province with 67 projects worth US$6.19 billion.

                                                                                                                                                                           Source VOV News