Republic of Korea tops foreign investment in first quarter

Friday, 2016-03-25 16:30:14
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NDO - Total foreign investment pledges by the Republic of Korea (ROK) in Vietnam reached US$888.6 million in the first quarter of 2016, making it the largest foreign investor in Vietnam during the said period.

Singapore came second with US$554 million, equivalent to 13.7% of more than US$4 billion attracted in the first three months of the year, according to Vietnam’s Foreign Investment Agency.

The southern province of Dong Nai was the largest recipient of foreign direct investment with US$585 million in both new pledges and additional investment in existing projects.

Bac Ninh and Binh Duong provinces followed with US$398 million and US$371 million respectively.

As of March 20, licences were granted to 473 FDI projects throughout the country with around US$2.74 billion expected to be poured in, while foreign companies also pledged to invest an additional US$1.29 billion in 203 current projects.

Sector-wise, manufacturing accounted for 72.2% of total FDI, estimated at US$2.9 billion in 216 projects, both new and existing. The second position belonged to property trading, which attracted a total of US$239.78 million.