Pledges of foreign direct investment (FDI) in the first nine months of 2020 were estimated at US$21.2 billion, down 18.9% compared with the same period last year, as shown by data as of September 20.
In the meantime, disbursement fell by only 3.2% to reach US$13.76 billion, according to the Ministry of Planning and Investment.
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Manufacturing was the most attractive sector to foreign investors, receiving US$9.9 billion, accounting for 46.6% of total FDI, followed by power generation and distribution and real estate with US$4.3 billion and US$3.2 billion, respectively.
Among the 111 countries and territories with investment in Vietnam, Singapore came out on top with US$6.77 billion, equivalent to nearly one third of the total, while the Republic of Korea and China came second and third with US$3.17 billion and US$1.87 billion, respectively.
In terms of new projects, the Republic of Korea ranked first with 499 projects, followed by China (271) and Japan (209). Singapore came fourth with 173 new projects.
The southern province of Bac Lieu remained the largest FDI recipient thanks to a US$4 billion natural gas project invested by a Singaporean investor.
The two economic hubs of Ho Chi Minh and Hanoi received the second and third largest shares of FDI with US$3.25 billion and US$2.92 billion, respectively. The People Newspaper (NDO) reported.
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Source: Vietnam Insider