Vietnam attracts nearly US$5 billion of FDI in two months

Foreign investors have poured nearly US$5 billion in Vietnam so far this year, equivalent to 91.5 percent of that in the same time last year, reported the Foreign Investment Agency under the Ministry of Planning and Investment.

As of February 20, 183 new projects had been licensed, a rise of 45.2 percent year on year, with their combined capital totaling $631.8 million, down 80.9 percent year on year.

Meanwhile, nearly $3.6 billion was added into 142 underway projects, over 2.2 times than that in the same period last year. Foreign investors also injected $769.6 million into share purchase deals, up 41.7 percent.

At the same time, $2.68 billion of foreign investment had been disbursed in the period, a year-on-year rise of 7.2 percent.

FDI was poured in 17 out of the 21 economic sectors, with the highest amount on processing-manufacturing sector at $3.13 billion. It was followed by real estate with nearly $1.52 billion, and science-technology and power production and distribution with $109.6 million and $60 million, respectively.

The agency said that 51 countries and territories have invested in Vietnam, led by Singapore with over $1.7 billion, accounting for 34.2 percent of the total FDI that Vietnam attracted in two months, and representing a rise of 59.3 percent year on year. China ranked second with $538 million.

Bac Ninh led the 63 localities nationwide in FDI attraction by luring over $1.3 billion, accounting for 26.5 percent of the total FDI in Vietnam and rising by nearly 7.6 times over the same period last year. With two large-scale projects, Thai Nguyen came second with nearly $924 million.

Meanwhile, Ho Chi Minh City attracted the highest number of new FDI projects.

The export revenue of the foreign-invested sector rose again in February to more than $41.9 billion after a slight drop in January.

Leaders of the agency advised ministries and sectors to strengthen trade promotion and diplomatic activities to make the full use of the EU-Vietnam Investment Protection Agreement (EVIPA) that is expected to become effective soon, while improving their business and investment environment as well as human resources quality, and strengthening the connections between domestic firms and their foreign peers.