FDI disbursement up in the first half of this year
June 28, 2017 | 11:40 AM GMT+7
Foreign direct investment (FDI) disbursement experienced a year-on-year increase of 6.5 per cent to US$7.72 billion in the first half of this year, statistics from the Foreign Investment Agency revealed.
Motorbikes being assembled at a Honda factory in the northern province of Ha Nam. Photo: nguoiduatin.vn
Total FDI registered in the country in the period reached US$19.22 billion, surging by a significant 54.8 per cent against the same period last year.
The processing and manufacturing sector attracted the lion share of FDI at US$9.48 billion, accounting for 49.3 per cent of total FDI registered in the country. Electricity production and distribution ranked second with US$5.25 billion or equivalent to 27 per cent, while the mining sector came third with US$1.28 billion or 6.68 per cent.
Japan surpassed South Korea to become Viet Nam’s leading source of FDI in six months. Japanese investors pumped US$5.08 billion into the country, making up 26.5 per cent of the total FDI. Investors from South Korea invested US$4.95 billion, or 25.8 per cent, while those from Singapore poured US$3.48 billion, or 18.1 per cent.
From January to June, the central province of Thanh Hoa was the most attractive destination for foreign investors as it attracted US$3.06 billion in FDI, contributing to 15.9 per cent of the nation’s total FDI. It was followed by the northern provinces of Bac Ninh and Nam Dinh with US$2.85 billion or 14.83 per cent and US$2.19 billion or 11.4 per cent, respectively.
Foreign-invested sector accounted for 71 per cent of the country’s total six-month export turnover. The sector also recorded trade surplus of US$10.22 billion in the period.
As of June 20, 2017, the country is home to more than 23,590 valid foreign-invested projects with a total registered capital of US$306.3 billion. Over half of the total has been disbursed, according to the agency.
Doan Van Binh, Chairman of CEO Group and Vice President of the Vietnam National Real Estate Association, introduced his latest book, “Vietnam Real Estate for Foreigners,” at a launch event in Hanoi on Friday.
Acting for increased women’s participation and leadership in climate action, Vietnam can accelerate a transition that is more inclusive, just, and impactful.
The "Steam for girls 2024" competition provides a creative platform for Steam and an opportunity for students to connect with peers from various regions within Vietnam and internationally.
The Politburo on Wednesday supported a plan to invest in a high-speed railway along the country’s North-South axis, marking a crucial step for the multi-billion-dollar project aimed at boosting economic growth and infrastructure development.
Vietnam's electric vehicle market, holding just 15 per cent of the automotive market share, shows promise but faces significant challenges in scaling up due to infrastructure and regulatory obstacles.
