Vietnam lures over USD 26 billion of FDI in nine months

Foreign investors poured USD 26.16 billion into Vietnam in the first nine months of this year, up 3.1 percent over the same period in 2019, according to the General Statistics Office.

Photo: VNA

Of the figure, USD 10.97 billion was invested in nearly 2,760 new projects, down 22.3 percent in terms of the capital and up 26.4 percent in the number of projects year on year.

Approximately USD 4.79 billion was pledged to existing projects, equivalent to 86.4 percent of the value from a year ago.

Foreign firms spent USD 10.4 billion on capital contributions and share purchases in Vietnam during the period, representing a year-on-year increase of 82.3 percent.

The nine-month foreign direct investment (FDI) disbursement was estimated at USD 14.22 billion, up 7.3 percent year on year.

Processing and manufacturing remained the most attractive sector to foreign investors during the January-September period, drawing USD 18.09 billion, making up 69.1 percent of the total pledged FDI capital. It was followed by property trading at USD 2.77 billion (10.6 percent of the total) and wholesale and retail at nearly USD 1.4 billion (5.4 percent of the total).

Among the total 109 countries and territories investing in Vietnam in the period, Hong Kong (China) was the largest investor with USD 5.89 billion, followed by the Republic of Korea at USD 4.62 billion and Singapore at USD 3.77 billion. Japan overtook China to rank fourth with a registered capital of USD 3.067 billion.

Hanoi was the largest FDI recipient during the period with USD 6.15 billion, accounting for 23.5 percent of the total, while Ho Chi Minh City and Binh Duong came second and third respectively with USD 4.52 billion (17.3 percent) and USD 2.52 billion (9.6 percent).

( VNF/VNA )