Hai Phong tops FDI attraction in eight months

Hai Phong was the largest attraction to foreign direct investment (FDI) in the first eight months of the year, drawing approximately US$2.02 billion, accounting for 14% of the country’s total figure, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Hai Phong tops FDI attraction in eight months

The LG Display Hai Phong project alone has a registered capital of US$1.5 billion - Photo: VOV

During the period, the port city reported 30 newly-licensed projects and 21 existing projects registering to adjust capital, notably including the LG Display Hai Phong project, licensed on April 15, with a registered capital of US$1.5 billion.

Hanoi ranked second regarding FDI attraction in the first eight months with US$1.782 billion in both new and additional pledges, representing 12.4% of the total, followed by Dong Nai and Binh Duong provinces with US$1.59 billion and US$1.38 billion respectively.

As of August 20, Vietnam had attracted approximately US$14.336 billion in new and additional FDI pledges, up 7.7% compared to the same period last year. Nearly 1,620 projects were licensed with total registered capital of US$9.795 billion, up 24.3% year on year, while 770 projects registered to increase capital by roughly US$4.57 billion, equivalent to 83.7% of the 2015 figure.

The processing and manufacturing industry continued to be the largest attraction for foreign investors, drawing US$10.53 billion in both new and additional FDI pledges, accounting for 73.3% of the period’s total. Real estate came in second with US$836.2 million, while the science and technology sector ranked third with US$622.3 million.

The Republic of Korea led the 65 countries and territories investing in Vietnam from January to August with US$4.8 billion (33.4% of the total FDI figure), followed by Singapore at US$1.68 billion (11.6%) and Japan at US$1.46 billion (10.1%)./.

Source: NDO

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