The Foreign Investment Agency under the Ministry of Planning and Investment said that foreign investors poured US$ 10.95 billion into new and operational FDI projects and to buy stakes in local companies in the first four months of 2017, up 40.5% from last year’s same period. Of that amount, US$4.8billion was disbursed, up 3.2% compared to last year’s same period.
The processing and manufacturing sector took the lead in attracting FDI with US$7.36 billion. It was followed by mining, retail and wholesale sectors. Among 83 nations and territories investing in Viet Nam, the Republic of Korea was the largest investor with US$4.05 billion. Japan came in second, followed by Singapore.
The northern province of Bac Ninh led in attracting FDI with US$2.7 billion. It was followed by the southern provinces of Binh Duong and Kien Giang.
Vietnam continues being an attractive destination for foreign investor. Nguyen Van Toan, Vice Chairman of the Vietnam Foreign Investment Business Association said that Vietnam has seen encouraging signs in foreign investment, particularly from Europe. European investors are trying to make full use of bilateral and multilateral free trade agreements to offset the losses caused by Brexit. This will make trade exchange between Vietnam and European Union be more advantageous…
Reported by K.T-Translated by K.T
