Vietnam attracts nearly US$535.4 million in FDI over two-month period

Vietnam attracted nearly US$535.4 million in foreign direct investment (FDI) in the first two months of the year, a decline of 85.1% against the same period from last year, according to the Ministry of Planning and Investment (MPI).

The total newly-registered capital, adjusted capital, and capital contribution and share purchases made by foreign investors stood at nearly US$3.1 billion, a drop of 38% on-year.

The MPI attributed the decline in the total registered capital to a sharp decrease being recorded in the adjusted capital, while new investment capital, capital contribution, and share purchases still increased against the same period last year.

During the reviewed period, foreign investors have poured funds into 17 out of 21 economic sectors throughout the country. Of these, the processing and manufacturing industry continued to lead the way with a total investment of more than US$2.17 billion, duly accounting for 70.1% of the total registered investment capital.

Furthermore, the real estate sector ranked second, with a total investment of nearly US$396.9 million, followed by the wholesale and retail industries, transportation and warehousing sector with a total registered capital of approximately US$202.1 million and roughly US$141.9 million, respectively.

In terms of the number of new projects, the manufacturing industry also attracted the most projects, accounting for some 30% of the projects and the adjusted capital.

A total of 51 countries and territories injected money into the country in the first two months of the year. Of which, Singapore topped the list with total investment exceeding US$978.4 million, accounting for nearly 31.6% of total investment capital, followed by Taiwan (China) with nearly US$407.1 million and the Netherlands with nearly US$369 million.

Moreover, foreign financiers have invested in 39 provinces and cities across the country. Bac Giang province topped the list with a total registered investment capital of more than US$824.3 million, accounting for more than 26.6% of total registered capital, trailed by Ho Chi Minh City with over US$369.1 million and other localities such as Binh Duong, Quang Ninh, and Dong Nai.