Registered foreign direct investment (FDI) in Vietnam hit $20.52 billion in the first eight months of the year, up 7% year-on-year, according to the Ministry of Planning and Investment.

Of this, $12 billion was pledged for 2,247 newly-registered projects, up 27% and 8.5% year-on-year, respectively.

Additional capital for 926 existing projects hit $5.7 billion, up 4.9% and 14.8%. About $2.81 billion came from 2,196 capital contributions and share acquisition deals, down 40.9% and 7.8%, respectively.

Capital contributions and share acquisitions was the only segment that recorded a year-on-year decrease.

By sector, manufacturing-processing posted the biggest figure of $14.17 billion, or 69% of the total registered capital, followed by real estate with $3.36 billion, or 16.4%.

Locality-wise, the northern province of Bac Ninh was the most attractive FDI destination with $3.47 billion, a three-fold increase year-on-year and accounting for 16.9% of the national total.

Other top localities were the northern coastal province of Quang Ninh with $1.78 billion, Ho Chi Minh City with $1.76 billion, and the southern province of Ba Ria-Vung Tau with $1.66 billion.

Singapore was the biggest FDI provider during the period with $6.79 billion, up 75.5% year-on-year, followed by Japan with $2.52 billion, Hong Kong with $2.4 billion, mainland China with $2.27 billion, and South Korea with $1.84 billion. The top five investors accounted for 77.1% of the registered FDI capital in the period.

In terms of project numbers, mainland China led the pack with 29.5% of the total.

The project that pushed Bac Ninh to the top position was the $1.07 billion investment initiated by U.S.-headquartered semiconductor giant Amkor Technology Inc. However, according to the MPI, this was calculated as a Singaporean investment.

In the eight-month period, the FDI disbursement reached $14.15 billion, up 8% year-on-year.

Source: The Investor
08/09/2024