Vietnam attracts over US$11 billion in FDI in first half of 2016

Tuesday, 2016-06-28 11:32:32
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Medicines are produced at German-invested B. Braun Vietnam in Hanoi’s Thanh Oai Industrial Complex (Photo: VNA)
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NDO/ VNA - The total foreign direct investment (FDI) registered in Vietnam in the first half of the year reached more than US$11.2 billion, the Foreign Investment Agency (FIA) said.

This is marks a surge of 105% against the same period last year.

Of the total, US$7.5 billion came from 1,145 newly licensed projects, representing a yearly increase of 95% in capital and 56% in the number of projects.

The remainder was contributed by 535 already-operating projects that had raised their capital by more than US$3.78 billion, or 129%, year-on-year.

Disbursement of FDI surged to an estimated US$7.25 billion in the six-month period, a year-on-year rise of 15%, FIA reported.

Manufacturing and processing industries continued to be the top sector, receiving FDI of US$8.06 billion, comprising 71% of the total registered FDI. The sector attracted 488 newly registered projects, and 405 existing projects increased their capital.

Manufacturing and processing was followed by the real estate sector, with 25 projects holding total capital of US$ 604.8 million, accounting for 5.3% of the total FDI. The science and technology sector took third place, with US$ 562.3 million, or 5% of the total FDI.

From January to June, 61 countries and territories invested in Vietnam. The Republic of Korea remained the leading investor, with US$ 3.99 billion, 35% of the FDI pledged to the country. Japan was the runner-up, with US$ 1.22 billion, or 10% of the FDI. Singapore followed with US$ 1.1 billion, accounting for another 10% of the total FDI.

Among the 53 localities, the northern port city of Hai Phong was the most attractive destination for foreign investors. The city attracted US$1.74 billion in FDI, comprising 15.4% of the total FDI registered in the country in the first half of the year. The city received a 1.5-billion-USD OLED display factory project from LG Display.

The capital city was close on its heels with US$1.63 billion, or 14.45% of the total FDI. The southern Binh Duong and Dong Nai provinces took the third and fourth places, with US$1.07 billion and US$928.9 million respectively.