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Vietnam Today

Hong Kong leads in 2M FDI to Vietnam

Released at: 14:36, 27/02/2019

Hong Kong leads in 2M FDI to Vietnam

Source: Internet

Vietnam attracted $8.47 billion in FDI in first two months of 2019, according to latest report from MPI.

by Minh Do

Total newly-registered and additional capital and capital contributions and shares purchased by foreign investors stood at $8.47 billion in the first two months of 2019, 2.5-times higher than in the same period of 2018, according to the latest report from the Ministry of Planning and Investment (MPI) released on February 20.

In the first two months of 2019, 514 new projects were granted investment licenses with total newly-registered capital of nearly $2.44 billion, up 75.7 per cent year-on-year, while 176 projects added capital to the tune of $854.8 million, up 22.1 per cent.

There were 1,039 instances of capital contributions and share purchases by foreign investors in the period, with capital contributions standing at $5.17 billion, four-times higher year-on-year. FDI projects disbursed $2.58 billion in capital in the first two months, up 9.8 per cent.

Eighteen fields received investment from foreign investors, in which processing and manufacturing attracted much attention, with total capital of nearly $6.93 billion, accounting for 81.8 per cent. Real estate ranked second, with $478 million, accounting for 5.6 per cent, while science and technology ranked third, with $306.7 million, or 3.6 per cent.

There were 66 countries and territories with new investment projects in Vietnam. Hong Kong led the way, with nearly $4.3 billion, making up 51 per cent of the total. Singapore followed, with $979.1 million, or 11.5 per cent. South Korea ranked third, with $873 million, or 10.3 per cent.

Forty-four cities and provinces received investment in the period, in which Hanoi attracted the most, with more than $4 billion, or 47.3 per cent of the total. Ho Chi Minh City ranked second, with more than $1 billion, or 12 per cent, then Bac Ninh province, with $541.7 million, or 6.3 per cent.

Exports by the foreign-invested sector (including crude oil) in February were $25.95 billion, up 3.7 per cent year-on-year and accounting for 70.7 per cent of the total. Exports excluding crude oil stood at $25.31 billion, up 3.2 per cent of the figure in February 2018 and accounting for 69 per cent of the total.

Imports by the FDI sector were $21.47 billion in the month, up 5.1 per cent against February 2018 and capturing 58.4 per cent of total import turnover. The FDI sector therefore recorded a trade surplus of $4.48 billion including crude oil and $3.84 billion excluding crude oil in February.

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