FDI pledges to Vietnam down 1.8% but disbursement up 9.7% in Jan-Feb

Wednesday, 2018-02-28 04:23:22
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FDI disbursements rose by 9.7% to US$1.7 billion in the first two months of 2018.
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NDO - Foreign direct investment (FDI) pledges to Vietnam over the first two months of 2018 dropped by 1.8% year on year to US$3.34 billion but disbursements rose by 9.7% to US$1.7 billion, as per official data as of February 20.

Manufacturing remained the most attractive sector to foreign investors, receiving commitments of US$1.83 billion, and accounting for more than half of total pledges.

The construction sector received the second largest chunk of FDI with US$345.4 million, followed the by the property sector with US$312.1 million.

Among the 60 countries and territories investing in Vietnam in early 2018, the Republic of Korea came out on top with US$851.2 million, or a quarter of total capital, followed by the British Virgin Islands and Singapore with US$450 million and US$418.5 million respectively.

Vietnam’s economic hub Ho Chi Minh City was the largest recipient of FDI during the period with US$1.1 billion, while the neighbouring province of Binh Duong received US$434 million to take second place.

The third largest recipient of FDI was the south central coastal province of Ninh Thuan, thanks to a US$150 million wind farm project funded by Singapore.

During the January-February period, exports by the foreign-invested sector reached nearly US$24 billion, with oil revenues accounting for 71.3% of Vietnam’s total export turnover.

The sector also imported goods worth US$19.2 billion, meaning it ran a trade surplus of US$4.8 billion for the first two months of 2018.