Foreign investment pledges in January hit US$1.3 billion

Wednesday, 2016-01-27 05:44:31
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NDO - New and additional pledges of foreign direct investment (FDI) in January reached US$1.334 billion, more than twice the level reached in the first month of 2015.

As of January 20th, disbursement was estimated at nearly US$800 million, a year on year increase of 23.1%, the Foreign Investment Agency (FIA) reported.

Exports by the foreign sector in January reached US$9.745 billion, including oil revenues, up 3.2% from a year ago; accounting for 70.6% of Vietnam’s total exports.

Meanwhile imports by foreign enterprises dropped by a slight 1.2% to US$8.15 billion, helping the sector to record a trade surplus of US$1.595 billion.

Manufacturing remained the most attractive sector in the first month of 2016, making up for two thirds of total investment pledges, followed by investment in the entertainment industry and power generation.

In January, Singapore emerged as the largest investor in Vietnam with more than US$295 million in both new and additional pledges. Malaysia was the second largest investor with US$243.57 million and China came in third with US$179.51 million.

Hanoi became the largest recipient of FDI capital in January with US$243.51 million, followed by Dong Nai province and Ho Chi Minh City.

Notable projects in January include a lottery business of the Malaysian company Berjaya Corporation Berhad in Hanoi, a garment project of Singapore’s Maple in Bac Ninh and an electronics project of New Wing Interconnect Technology in Bac Giang.