Foreign direct investment (FDI) disbursement experienced a year-on-year increase of 6.5 per cent to US$7.72 billion in the first half of this year, statistics from the Foreign Investment Agency revealed.

Total FDI registered in the country in the period reached $19.22 billion, surging by a significant 54.8 per cent against the same period last year.

The processing and manufacturing sector attracted the lion share of FDI at $9.48 billion, accounting for 49.3 per cent of total FDI registered in the country. Electricity production and distribution ranked second with $5.25 billion or equivalent to 27 per cent, while the mining sector came third with $1.28 billion or 6.68 per cent.

Japan surpassed South Korea to become Viet Nam’s leading source of FDI in six months. Japanese investors pumped $5.08 billion into the country, making up 26.5 per cent of the total FDI. Investors from South Korea invested $4.95 billion, or 25.8 per cent, while those from Singapore poured $3.48 billion, or 18.1 per cent.

From January to June, the central province of Thanh Hoa was the most attractive destination for foreign investors as it attracted $3.06 billion in FDI, contributing to 15.9 per cent of the nation’s total FDI. It was followed by the northern provinces of Bac Ninh and Nam Dinh with $2.85 billion or 14.83 per cent and $2.19 billion or 11.4 per cent, respectively.

Foreign-invested sector accounted for 71 per cent of the country’s total six-month export turnover. The sector also recorded trade surplus of $10.22 billion in the period.

As of June 20, 2017, the country is home to more than 23,590 valid foreign-invested projects with a total registered capital of $306.3 billion. Over half of the total has been disbursed, according to the agency. — VNS