FDI pledges to Vietnam hit US$20 billion in first half of 2018

14:17 | 02/07/2018 Economy

Total foreign direct investment (FDI) committed to Vietnam in the first half of 2018 was estimated at US$20.33 billion, up 5.7 percent year-on-year, according to the Foreign Investment Agency (FIA).

The manufacturing sector received US$7.91 billion of FDI in the first half of 2018

During the same period, the amount disbursed also rose by 8.4 percent to US$8.37 billion, the FIA added.

Japan was the largest foreign investor with US$6.47 billion poured into Vietnam, followed by the Republic of Korea with US$5.06 billion. Singapore came third with a total investment of US$2.39 billion.

Among the 55 provinces and cities receiving foreign investment, Hanoi was the largest recipient with US$5.87 billion, equivalent to 28.9 percent of the total investment in Vietnam during the January-June period.

Ho Chi Minh City got the second largest proportion of FDI pledges with US$3.68 billion while Ba Ria-Vung Tau province, which was third, received US$1.93 billion.

FIA data showed that manufacturing continued to be the most attractive sector to foreign investors, receiving a total of US$7.91 billion, followed by property trading and retail sales.

In the first half of 2018, the FDI sector, including oil companies, recorded a trade surplus of US$15.65 billion, with exports and imports valued at US$80.86 billion and US$65.21 billion respectively.

Theo NDO