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FDI pledges to Vietnam hit US$14.59 billion in first four months

Thứ Hai, 13/05/2019 - 03:00

Pledges of foreign direct investment (FDI) in Vietnam reached US$14.59 billion in the first four months of 2019, the highest figure in the past four years.

Hanoi has become the largest recipient of FDI. (Illustrative image)

Hanoi has become the largest recipient of FDI. (Illustrative image)

That’s up 81% compared with the same period of 2018, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

Disbursement during the period only increased by 7.5% to reach US$5.7%.

As of April 20, investment licenses have been granted to 1,082 new projects worth a total of US$5.34 billion, up 50.4% over the same period of last year, while capital contributions and share purchases were estimated at US$5.68 billion.

An additional US$2.11 billion were poured into 395 existing projects, with pledges down 6% in comparison to the same period of 2018, stated the FIA.

The four months of 2019 saw the foreign-invested sector, including oil firms, record a trade surplus of US$11.17 billion.

Without oil revenues, the surplus would be US$10.5 billion.

The manufacturing sector was the largest recipient of foreign investment at US$10.5 billion, accounting for nearly 72% of total FDI pledges. Property trading came second with US$1.1 billion, followed by wholesale and retail with US$742.7 million.

A breakdown of investors showed that Hong Kong (China) was the largest investor with US$4.7 billion. The Republic of Korea and Singapore occupied the second and third positions respectively.

Meanwhile, Hanoi has become the largest recipient of FDI, receiving more than US$4.47 billion. Ho Chi Minh City came second with US$2.37 billion and Binh Duong province ranked third with US$1 billion.

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