The inflow of foreign investment capital (FDI) into Vietnam experienced a slight increase of 3.1 per cent to US$26.16 billion in the first nine months of 2019 after a fall of 7 percent seen in the first eight months.
According to a report by General Statistics Office, Vietnam attracted nearly 2,760 new foreign-invested projects with a total registered capital of $10.9 billion, up 26 percent in the number of projects but down 22 percent in the level of capital over the same period last year.
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It also allowed more than 1,030 existing projects to raise their investment capital by $4.7 billion, a year-on-year reduction of 14 percent.
Foreign capital to buy stakes in Vietnamese companies rose by 82 percent year-on-year to $10.4 billion, according to the office, adding that FDI disbursement also jumped by 7.3 percent to $14.2 billion.
Foreign investors focused mainly on the manufacturing and processing sector with $18.09 billion, equivalent to 70 percent of the nation’s total FDI. It was followed by real estate with $2.77 billion (11 percent) and the wholesale and retail industry with $1.4 billion (5.4 percent).
From January to September, Hong Kong retained its crown as Vietnam’s leading foreign investor, pouring in nearly $5.89 billion, accounting for 65 percent of the total FDI pledged to the country.
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South Korea followed with $4.62 billion, making up 18 percent of the total FDI, followed by Singapore with $3.77 billion or equivalent to 15 per cent. Japan surpassed mainland China to rank fourth with more than $3 billion.
The capital city remained the top destination for FDI by attracting $6.15 billion in the first nine months, making up 24 percent of the total registered capital. HCM City and the southern province of Binh Duong were the runners-up with $4.52 billion (17 percent) and $2.52 billion (10 percent).
According to the office, foreign-invested businesses recorded a nine-month export turnover of $134.7 billion, up 5 percent year-on-year, accounting for nearly 70 percent of the country’s total exports.