|Singapore is Vietnam’s leading foreign investor in first eight months of 2020|
|Vietnam expects GDP growth next year at 6-6.5%|
|FDI inflows into Vietnam will recover after the pandemic|
According to Foreign Investment Department (Ministry of Planning and Investment), there are 1,947 new projects granted investment registration licenses with a total capital of US$ 10.36 billion, 798 projects registering to adjust investment capital with a total additional capital of US$ 5.11 billion, 5,172 projects contributing capital and purchasing shares of foreign investors worth US$5.73 billion, Zing News reported.
The new, additional and share- purchasing investment capital decreased compared to the same period last year. Disbursed foreign capital also declined.
"The second wave of the Covid-19 epidemic in the world and in Vietnam has had a significant impact on the foreign investment inflow in Vietnam in recent times", said the Foreign Investment Department.
Vietnam attracts over US$21 billion in FDI in the first nine months Illustrative photo: Dan Tri
Nevertheless, foreign investors still maintain production activities and are positive about the investmentenvironment in Vietnam. Also, many other foreign investors eye investment in the country.
That there are a large number of foreign experts yet to enter Vietnam due to the COVID-19 pandemic partly affect business activities as well as investment expanding projects, Foreign Investment Department added.
Over the past nine months, 18 fields were invested, in which, the processing and manufacturing industry remained the most attractive, receiving nearly US$ 9.9 billion. The power generation and distribution ranked second (US$ 4.3 billion) and followed by the real estate and wholesale, retail sectors.
Three were 111 countries and territories investing in Vietnam. Among them, Singapore took the lead with more than US$6.67 billion (33.5% of the accumulative capital). It was followed by South Korea with US$3.17 billion (15.2 percent) and China was third with US$1.87 billion (8.8 percent).
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The Ministry of Planning and Investment, Vietnam attracted USD Vietnam attracted US$19.54 billion worth of FDI as of August 20, down 13.7% year-on-year.