Vietnam’s January-May FDI down 17 per cent

HANOI, May 29, 2020, VNA. Vietnam attracted a total of 13.9 billion USD in FDI in the first five months of this year, a fall of 17 percent year-on-year, the General Statistics Office (GSO) announced on May 29, Vietnam News Agency reported.

There were 1,212 newly-registered projects with 7.4 billion USD in investment, down 11.1 percent in number but up 15.2 percent in capital, respectively.

A total of 3.5 billion USD was added to 436 existing projects, a year-on-year increase of 31.4 percent, while capital contributions and share purchases by foreign investors stood at nearly 3 billion USD, down 60.9 percent.

Processing and manufacturing was the most attractive sector among foreign investors, the GSO said, receiving 6.9 billion USD.

Among 58 countries and territories registering new projects in Vietnam in the first five months, Singapore was the largest investor, with 4.3 billion USD, accounting for 58 percent of the total. Following was Taiwan (China) with 743 million USD, China with 694 million USD, Hong Kong (China) with 500 million USD, and the Republic of Korea with 441 million USD.

As of May 20, 6.7 billion USD of FDI had been disbursed this year, a year-on-year decline of 8.2 percent, of which over 4.9 billion USD went to projects in the processing and manufacturing industry.

Vietnamese investors had 60 new projects abroad in the period, with combined capital of 161.9 million USD. They also added 18.8 million USD to eleven existing projects.

Local investors had investments in 21 countries and territories during the period, with Germany being the largest recipient, with 92.6 million USD. Following was the US with 21.7 million USD, Myanmar with 21.2 million USD, and Singapore with 18.9 million USD.