FOREIGN INVESTMENT IN VIETNAM HITS $10B

Up to 907 foreign projects, worth $7.56 billion, received investment licences during the reviewed period, up 160 per cent year-on-year while 425 existing projects were allowed to raise $2.59 billion in capital, up 93.3 per cent on last year.

Disbursement of foreign direct investment (FDI) in five months also increased 17.2 per cent to $5.8 billion, the ministry noted.

With $3.42 billion pledged for Viet Nam, South Korea retained its position as the country's leading investor, accounting for 34 per cent of the nation's total FDI. Luxembourg came second with nearly $1.25 billion or 12.3 per cent while Singapore ranked third with $907 million or 8.9 per cent.

Manufacturing and processing sectors continued to be the top sector as it took $6.61 billion, making up 65 per cent of the registered FDI. It was followed by information and communication with $1.3 billion or nearly 13 per cent and real estate with $543 million or 5.3 per cent.

From January to May, the capital city attracted the lion share of FDI with $1.96 billion, equivalent to 19.3 per cent of the country's total FDI. The runner-ups were the northern port city of Hai Phong and southern Dong Nai province with $1.71 billion and $922 million, respectively.

Source: VIR