Vietnam’s foreign direct investment (FDI) witnessed a significant yearly increase of 81 percent to 14.59 billion USD in the first four months of the year. The result is the highest in the past four years.
FDI disbursement also rose by 7.5 percent from the same period last year to reach 5.7 billion USD. Vietnam News Agency reports.
According to the Foreign Investment Agency (FIA) under Ministry of Planning and Investment, up to 1,082 new projects were granted licences with total registered capital of 5.34 billion USD, up 50.4 percent from the same period last year, while 395 existing projects receiving an additional 2.11 billion USD, 94 percent of the level from the corresponding period last year.
Meanwhile, capital pledged for stake acquisitions reached 5.68 billion USD, triple the same period last year, said an officer of FIA.
Foreign investors poured their cash into 19 sectors. Manufacturing and processing remained the most appealing sector by attracting 10.5 billion USD, accounting for 72 percent of total investment inflow. It was followed by real estate with 1.1 billion USD (7.5 percent) and wholesale and retail with 742.7 million USD (5 percent).
Hong Kong was the leading source of foreign investment with 4.7 billion USD among 80 countries and territories investing in Vietnam, nearly 32.5 percent of the country’s total FDI. The Republic of Korea ranked second with 1.98 billion USD (13.6 percent), and Singapore came next with 1.87 billion USD (12.8 percent).
In the first four months of the year, Hanoi lured the largest share of registered capital with 4.47 billion USD, or 30.6 percent of total investment. The capital was followed by HCM City with 2.37 billion USD (16.3 percent) and the southern province of Binh Duong with 1 billion USD (7 percent).
Exports (including crude oil) of the foreign sector reached 55.4 billion USD, a 4 percent year-on-year increase and accounting for 70 percent of the country’s total export turnover.
The sector’s import turnover in the January-April period rose by 9 percent compared to the same period last year to 42.3 billion USD, accounting for 58 percent of the country’s total import turnover.
The foreign sector enjoyed a trade surplus of 13.1 billion USD in the four months.
To be advised on how to start your business in Vietnam as a foreign investor, contact GBS, a business law firm in Vietnam at: info@gbs.com.vn , hotline: +84903189033 or visit the website: https://gbs.com.vn