January-April foreign direct investment disbursement up 12%

Thursday, 2016-04-28 16:24:54
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NDO - Disbursed foreign direct investment (FDI) in the first four months of the year was estimated at US$4.7 billion, up 12% compared with the same period last year, according to the General Statistics Office (GSO).

Meanwhile FDI pledges to new and current projects during the January-April period rose by 85% to more than US$6.8 billion as of April 20, the GSO said.

The first four months of 2016 saw licences granted to 697 new projects, to which foreign investors pledged a total of US$5.08 billion, up by nearly 90% year on year, the GSO reported.

Sector-wise, manufacturing was the largest recipient of FDI, attracting US$5.2 billion, accounting for more than three quarters of total pledges, followed by science and technology with US$334.6 million.

The northern port city of Hai Phong received the largest share of foreign investment in new projects during the January-April period at over US$1.5 billion. Hanoi and Binh Duong province came second and third with US$595.5 million and US$329 million respectively.

Investment by companies from the Republic of Korea in new projects reached nearly half of total new pledges at US$2.4 billion, making it the largest foreign investor in Vietnam.

Singapore was the runner-up with US$502.1 million, equivalent to nearly one tenth of total pledges to new projects.