ASEAN funds flood Viet Nam

Friday, Jul 10, 2015 09:57

A view of Laguna Lang Co Resort, funded by Singapore's Banyan Tree, in Thua Thien-Hue Province. Singapore tops the list of ASEAN investors in Viet Nam with a total investment of US$32.2 billion as of June 20. — VNA/VNS Photo Tuan Anh

HA NOI (Biz Hub) — As of June 20, investors in the ASEAN region poured US$54.6 billion into 2,632 projects in Viet Nam, according to the Ministry of Planning and Investment's Foreign Investment Agency.

The agency said the average capital for a project invested by ASEAN investors in Viet Nam was $20.7 million, higher than the average level of $13.9 million from other investors.

Singapore took the lead with 1,428 projects and a total investment of $32.2 billion, accounting for 60 per cent of the total. Malaysia ranked second with 499 projects and $12.06 billion total capital. Thailand came third with 392 projects and $6.8 billion investment.

Foreign direct investment from the ASEAN region were mostly focused on the manufacturing and processing industries with 1,009 projects and $22.2 billion registered capital, accounting for 40 per cent of the total.

The property sector came second with 97 projects with $16.6 billion. It was followed by the construction sector, with 175 projects amounting to $3.24 billion.

ASEAN players have invested in 55 provinces and cities across the nation. HCM City has attracted the maximum number of investors, with projects worth $15.07 billion.

Ha Noi followed with 417 projects worth $8.58 billion. Ba Ria-Vung Tau ranked third with 67 projects worth $6.19 billion.

Some of the major projects by ASEAN investors include South Hoi An Resort, with a total investment of $4 billion from Singapore Genting VinaCapital Investment Pte Ltd; Samsung Thai Nguyen complex's phase 2 by Samsung Electronics Viet Nam-South Korea; a university urban area in HCM City by Malaysia's Berjaya Leisure Corporation; and Long Son oil refinery plant in Ba Ria-Vung Tau by a Thai investor. — VNS

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