Singapore rose to become the biggest foreign investor in Vietnam in the first four months of 2020 with US$5.07 billion, accounting for 41% of the total.
It was followed by Thailand and Japan, with US$1.46 billion and US$1.16 billion, respectively, according the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).VNA
Foreign investors poured US$12.33 billion in total into Vietnam during January-April, a year-on-year decrease of 15.5% due to the impact of the COVID-19 pandemic.
The period saw 984 new foreign-invested projects licensed with a total registered capital of US$6.78 billion, down 9.1% in term of number of projects but up 26.9% in value year-on-year.
Meanwhile, 335 existing projects were allowed to raise their investments by more than US$3.07 billion, surging 45.6% over the same period last year.
According to the agency, FDI disbursement reached US$5.15 billion in the four months or equivalent to 90.4% of the last year’s corresponding period.
Foreign investors pledged to pour capital in 18 sectors, in which manufacturing and processing took the lead with nearly US$6 billion, accounting for 48.4% of the total capital. It was followed by power production and distribution (US$3.9 billion); wholesale and retail (US$776 million); and real estate (US$665 million), the FIA said.
Among 54 localities receiving FDI in the four-month period, the southern province of Bac Lieu ranked top with US$4 billion. Southern Ba Ria-Vung Tau province came next with US$1.9 billion and HCM City placed third with US$1.31 billion, followed by Hanoi capital city and Ha Nam and Binh Duong provinces.