Vietnam attracts nearly US$20 billion FDI in first half of 2017

14:20 | 02/07/2017 Investment

Total foreign direct investment (FDI) registered in Vietnam for the first half of the year reached approximately US$19.22 billion, the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has announced.

vietnam attracts nearly us 20 billion fdi in first half of 2017
Illustrative image - Photo: VNA

This is a significant surge of 54.8% against the same period last year.

Of the total, US$11.83 billion came from 1,183 newly licensed projects, representing a yearly increase of 57.9%. The remainder was contributed by 549 currently-operating projects that had raised their capital by more than US$5.14 billion, or 35.8%, year-on-year.

Manufacturing and processing industries continued to be the top sector, receiving FDI of US$9.48 billion, comprising 49.3% of the total registered FDI.

It was followed by electricity production and distribution, with projects holding total capital of US$5.25 billion. The mining sector took third place, with US$1.28 of the total FDI.

From January to June, 94 countries and territories were making active investments in Vietnam. Japan has been the leading investor, with US$5.08 billion, 26.45% of the FDI pledged to the country. The Republic of Korea was the runner-up, with US$4.95 billion. Singapore followed with US$3.48 billion.

Theo NDO