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Vietnam sees FDI rise to over US$10 billion in Q1

Rosy Huong Rosy Huong

huongthhd@gmail.com

March 29, 2021 | 08:33

Foreign direct investment (FDI) inflows to Viet Nam expanded by 18.5 percent to US$10.13 billion in the first three months of this year.

foreign enterprises promote investment in vietnam in first half of january Foreign enterprises promote investment in Vietnam in first half of January
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The FDI capital inflows cover 17 sectors in Vietnam. Photo: VOV


Foreign direct investment (FDI) inflows to Viet Nam expanded by 18.5 percent to US$10.13 billion in the first three months of this year, the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment said.

Of the figure, newly registered capital reached $7.2 billion, up 30.6 percent year-on-year, while adjusted capital increased by 97.4 percent to $2.1 billion.

Meanwhile, capital contribution and share purchases by foreign investors stood at $908 million, down 58.5 percent from the same period last year.

The capital inflows cover 17 sectors, in which processing and manufacturing took the lead with $5 billion, accounting for 49.6 percent of the combined investment, followed by electricity generation and distribution with $3.9 billion.

During the first quarter, Singapore was the top source of FDI pledges, with $4.6 billion, or 45.6 percent of the total registered capital, followed by Japan with $2.1 billion, and the Republic of Korea with $1.2 billion.

Almost all the investment capital inflows from Singapore and Japan were newly-registered, reported the FIA.

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Processing and manufacturing took the lead in FDI attraction, with US$5 billion. Photo: VGP

In the reviewed period, the country granted investment licenses to several big projects, including the $3.1 billion LNG-to-power complex in Long An province and O Mon II power plant in Can Tho City.

The FDI disbursement was estimated at $4.1 billion, up 6.5 percent against the same period last year.

As the national economy began gradual recovery, export value of the foreign-invested sector rose by 27.5 percent to $58.59 billion, making up 76.4 percent of the total export turnover.

The sector’s import turnover was estimated at $49.8 billion, an year-on-year increase of 30.3 percent against the same period last year and accounting for 66.8 percent of the nation’s total import volume./.

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Rosy Huong