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Despite COVID-19, nearly USD14 billion of FDI poured into Vietnam in first 5 months

11:56 | 01/06/2020

Despite a decrease of 17% over the same period, FDI capital remains optimistic outlook as the Government and localities are taking drastic actions to welcome investment wave post the COVID-19 pandemic.    

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despite covid 19 nearly usd14 billion of fdi poured into vietnam in first 5 months

Vietnam lured USD13,88 billion of FDI in the first five months this year.

According to the Foreign Investment Agency (FIA) under Ministry of Planning and Investment, Vietnam lured USD13,88 billion of FDI in the first five months this year, a year-on-year decrease of 17%.

Notably, although the COVID-19 pandemic almost paralyzed the global economy, newly registered FDI and adjusted capital in Vietnam still increased over the same period in previous years, with an increase of 40,3% compared to 2018; 11.5% compared to 2017 and 36.6% compared to 2016.

The whole country has 1.212 new projects with total registered capital of USD7.44 billion, up 15.2% compared to the same period in 2019.

despite covid 19 nearly usd14 billion of fdi poured into vietnam in first 5 months

Among 54 localities receiving FDI in the four-month period, the southern province of Bac Lieu ranked top with 4 billion USD.

Leading in attracting FDI in the past 5 months is the manufacturing and processing industry with over USD6.88 billion. It was followed by power production and distribution (USD3.92 billion); wholesale and retail (USD945 million); and real estate (USD801 million), the FIA said.

Singapore rose to become the biggest investors in Vietnam, with USD5.31 billion, accounting for 38.2% of the total. It was followed by Thailand and China with USD1.45 billion, USD1.27 billion and USD, respectively.

Among 54 localities receiving FDI in the four-month period, the southern province of Bac Lieu ranked top with 4 billion USD. Southern Ba Ria-Vung Tau province came next with 1.9 billion USD and HCM City placed third with 1.6 billion USD, followed by Ha Noi capital city and Ha Nam and Binh Duong provinces.

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