Ten-month FDI grows 37% to $28 billion

An assembly line of Samsung Display Viet Nam project in Bac Ninh Province. South Korea continued to be the largest investor in Viet Nam. — Photo doisongphapluat.vn

Some US$28.24 billion in foreign direct investment (FDI) was poured into Viet Nam between January and October, representing a year-on-year increase of 37.4 per cent.

This was stated by the Foreign Investment Agency under the Ministry of Planning and Investment. Of the figure, $16.3 billion was put into 2,070 new projects (up 32.9 per cent), $7.27 billion (up 35.9 per cent), into 1,001 operational projects that required additional investment capital and $4.67 billion into 4,156 capital contribution and share purchase projects.

Foreign investment was concentrated in 19 fields, with the processing and manufacturing industry ranking first with $13.75 billion, accounting for 48.7 per cent of total investment. Electricity production and distribution came second with $5.63 billion, followed by real estate with $2.04 billion.

As of October 20, FDI projects disbursed $14.2 billion, 11.8 per cent higher than the same period last year.

Exports of FDI firms (including crude oil) reached $125.49 billion, posting an increase of 22.1 per cent from the corresponding period last year and accounting for 7.2 per cent of total export turnover.

Their imports rose 29.2 per cent to $107.85 billion, accounting for 62.5 per cent of the country’s total import turnover. In the first 10 months of the year, the FDI sector saw a trade surplus of $17.63 billion including crude oil and $15.24 billion excluding crude oil.

With $7.62 billion, South Korea continued to be the largest investor among the 112 countries and territories investing in Viet Nam, making up 27 per cent of total FDI, followed by Japan which invested $6.07 billion, or 21.5 per cent of total FDI, and Singapore with $5.59 billion.

Foreign businesses provided capital to 59 provinces and cities nationwide. HCM City took the lead in FDI attraction with $5.03 billion, followed by Bac Ninh at $3.19 billion and Thanh Hoa at $3.16 billion.

Some large projects were given investment licences in the January-October period, such as Nghi Son 2 BOT Thermo-power Plant with $2.79 billion investment in Thanh Hoa Province, Samsung Display Viet Nam project in Bac Ninh Province that added $2.5 billion and Nam Dinh 1 BOT Thermo-power Plant with $2.07 billion investment. — VNS