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Tuesday, October 22nd, 2019

Vietnam sees 8.7 pct decline in FDI attraction in 10 months

by October 28, 2016 General

HANOI, Oct. 28 (Xinhua) — Vietnam is estimated to attract 17.613 billion U.S. dollars in 3,028 foreign direct investment (FDI) projects in the first ten months of 2016, down 8.7 percent in value year-on-year.

According to a report by Vietnam’s General Statistics Office (GSO) on Friday, as much as 2,061 FDI projects worth 12.265 billion U.S. dollars are newly licensed in ten-month period, up 24.4 percent in volume and down 1.3 percent in value year-on-year.

Meanwhile, a total of 5.348 billion U.S. dollars is registered to add to 967 existing projects, said the office.

During ten-month period, the country is likely to see FDI disbursement of 12.7 billion U.S. dollars, up 7.6 percent year-on-year.

Manufacturing and processing industry seems to lure the most attention of foreign investors in Vietnam with a registered capital of 12.848 billion U.S. dollars in the first ten months, accounting for 72.9 percent of the national total FDI.

Real estate business ranks second with 982.6 million U.S. dollars, making up 5.6 percent, said GSO.

Vietnam’s northern Hai Phong city got the largest amount of FDI from January to October with 2.443 billion U.S. dollars, followed by capital Hanoi and southern Binh Duong province with 1.122 billion U.S. dollars and 1.098 billion U.S. dollars, respectively.

Among 58 countries and regions with FDI projects in Vietnam, South Korea remains the largest investor with 4.668 billion U.S. dollars. Singapore and China’s Hong Kong rank second and third places with 1.269 billion U.S. dollars and 959.7 million U.S. dollars, respectively.

At the same time, China and China’s Taiwan occupy the next two seats with respective investment of 898.9 million U.S. dollars and 824.1 million U.S. dollars, said GSO.