FDI inflow into Vietnam tops $11B in 5 months

Vietnam has received foreign investment commitments worth US$11.07 billion during January-May, up 2% year-on-year, according to the Ministry of Planning and Investment (MPI)’s Foreign Investment Agency.
Of these pledges, $7.94 billion was allocated to new projects, an increase of 50.8%, with the remainder directed towards additional investment in existing projects and acquisitions. FDI pledges indicate the size of future FDI disbursements, including newly registered capital, further investment in existing projects, and stake acquisition.

Up to 67.1% of the investment went to the manufacturing and processing industry. Pledges from Singapore were the highest so far this year, totaling $3.25 billion.

The Ministry of Industry and Trade (MoIT) reported that most of the FDI was directed to localities with strong infrastructure, stable human resources, efforts in administrative procedure reform, and active investment promotion, such as Ba Ria – Vung Tau, Hanoi, Bac Ninh, Ho Chi Minh City, Dong Nai, Quang Ninh, Bac Giang, Hai Phong, Thai Nguyen, and Hung Yen.

The disbursement of FDI capital grew 7.8% to some $8.25 billion during the five-month period.

As of May 20, Vietnam had 40,285 valid projects with a combined capital of $481.33 billion, of which around $305.43 billion has been disbursed so far.

Source: VnExpress