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Vietnam lures over 16 billion USD in foreign investment in 7 months

July 31, 2023 10:48 AM

Vietnam attracted approximately 16.24 billion USD in foreign direct investment (FDI) from the beginning of this year to July 20, up 4.5 per cent year-on-year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Manufacturing and processing sector attracts the biggest FDI in seven months (Photo: baodautu.vn)

In the period, there were 1,293 newly-registered projects with a combined capital of 7.94 billion USD, up 75.5 per cent in the number of projects and 38.6 per cent in capital compared to the same period last year.

Meanwhile, 2.93 billion USD, down 42.5 per cent year-on-year, was added to 736 existing projects, up 27.1 per cent year-on-year.

The value of capital contribution and share purchase deals rose by 60.7 per cent to 4.16 billion USD.

The manufacturing and processing sector led in FDI attraction, with 10.93 billion USD. It was followed by real estate (1.61 billion USD).

In the January-July period, there were 94 countries and territories pouring capital into Vietnam, in which Singapore topped the list with 3.64 billion USD, down 15.5 per cent year-on-year. It was followed by the Republic of Korea (2.34 billion USD) and China (2.33 billion USD).

Those investors poured their capital into 52 provinces and cities in the period, with Hanoi receiving the lion’s share – 2.28 billion USD, up 2.76 times year-on-year. Hai Phong came second with over 2 billion USD, up 96.5 per cent, followed by Ho Chi Minh City.

As of July 20, FDI disbursement was estimated at 11.58 billion USD, up 0.8 per cent year-on-year.

Source: Vietnam Investment Review

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