Mechanic production at Japanese-invested company in the northern port city of Hai Phong (Photo: VNA) Hanoi (VNA) – The disbursement offoreign direct investment (FDI) in the first five months of 2018 was estimatedat 6.75 billion USD, up 9.8 percent year-on-year.
According to the Foreign Investment Agency underthe Ministry of Planning and Investment, as of May 20, Vietnam granted newinvestment licenses to 1,076 FDI projects with total registered capital ofnearly 4.66 billion USD, up 14.6 percent in volume but down 16.8 percent invalue.
As many as 393 existing projects registered toincrease capital by a total of nearly 2.5 billion USD in January-May, raisingtotal newly-licensed and increased-capital foreign investment to about 7.15billion USD in the five months, an annual decline of 30.8 percent.
The FDI sector has become an important part inVietnam’s economy, contributing about 25 percent to social investment capitaland 20 percent to gross domestic product, according to the Ministry of Planningand Investment.
Close to 58 percent of total FDI capital haswent to the processing and manufacturing industries, helping Vietnam increasethe value of products and make domestic economic sectors more competitive.
In 2017, the FDI sector made up 72 percent oftotal export value and generated about 3.5 million direct jobs and 5 millionindirect jobs.
Vietnam remained an attractive destination forforeign investors in 2017 with total registered FDI capital hitting a record of35.88 billion USD, up 44.4 percent against last year.
The most attractive sectors weremanufacturing-processing industries, electricity production and distributionand real estate.
Among 115 countries and territories investing inVietnam in 2017, Japan topped the list, with 9.11 billion USD, making up 25.4percent of the total.
It was followed by the Republic of Korea with8.49 billion USD or 23.7 percent of the FDI, and Singapore with 5.3 billion USDor 14.8 percent.-VNA
Source: VNAVNA
