Foreign direct investment (FDI) commitments totaled USD19.54 billion as of August 20, equivalent to 86.3 percent year-on-year.

Chan May LNG, a U.S.-Vietnamese joint venture, plans to invest up to $6 billion in a power project in Vietnam as it seeks to cash in on the Southeast Asian country’s rising demand for electricity, its chief executive officer said on Wednesday.

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.    

The total registered capital for foreign direct investment (FDI) projects in Vietnam in the first four months of 2020 has surged despite the impact of Covid-19 thanks to contributions from billion-dollar projects.  The flows into Vietnam reached US$12.33 billion in the first four months of 2020, equivalent to 84.5% of the value recorded in the same period last year.

Since the beginning of this year, the total foreign direct investment (FDI) capital pumped into Vietnam merely accounted for 84.5 percent of that in the same period last year. Foreseeable investment inflows to Vietnam will be affected due to Covid-19 but high economic growth will provide a buffer for the country.