Vietnam attracts over US$12 billion worth of FDI in five months

14:22 | 01/06/2017 Economy

Vietnam attracted more than US$12 billion in both new and additional foreign direct investment (FDI) pledges in the first five months of 2017, up 10.4% compared to the same period of 2016, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

The Samsung Display Vietnam project in Bac Ninh province has registered to increase its investment capital by an additional US$2.5 billion

So far this year, the country has licensed 939 new investment projects with a total registered capital of US$5.59 billion, equivalent to 73.9% of the 2016 figure. Another 437 projects have registered to increase capital by US$4.74 billion, up 83% from last year.

The January-May period saw over 2,060 arrivals of foreign investors, who have contributed capital through the purchase of shares, leading to a total capital contribution of US$1.79 billion, representing a 116.2% increase against the previous year.

As of May 20, FDI disbursement had reached US$6.15 billion, up 6% over the same period of 2016.

The manufacturing industry remained the largest FDI attraction in five months with an investment of US$8.09 billion, claiming 66.7% of the total figure for the period. The mining sector came second with US$1.28 billion (10.5% of the total), followed by the retail and wholesale industry with US$798 million (6.5% of the total).

The Republic of Korea was the largest foreign investor in Vietnam in the first five months of 2017 with a US$4.41 billion (36.4% of the total) investment, followed by Japan with US$1.94 billion (16%) and Singapore with US$1.23 billion (10.21%).

Bac Ninh province attracted the most FDI capital from January to May with US$2.76 billion (22.7% of the total), followed by Binh Duong with US$1.64 billion (13.5%) and Ho Chi Minh City with US$1.39 billion (11.4%).

Theo NDO