Vietnam lures over $18B in foreign capital in seven months

The disbursed investment was recorded at over $12.55 billion, up 8.4% as compared to the same time last year.

Foreign investors injected $10.76 billion in 1,816 new projects, rising 35.6% and 11.6%, respectively.

Meanwhile, 734 projects had their capital adjusted up with a total amount of more than $10.76 billion, down 0.3% in the project number, and up 19.4% in capital year-on-year.

Capital contributions and share purchases fell 45.2% to $2.27 billion.

The agency said that foreign investors funneled their money in 18 out of 21 economic sectors, with the processing and manufacturing industry attracting the largest share of over $12.65 billion, or 70.3% of the total. The realty sector came second with more than $2.87 billion, wholesale and retail sale industry third with nearly $740.5 million, and professional activities and science-technology fourth with over $490.6 million.

Registering $6.52 billion, Singapore was the biggest investor among 91 countries and territories investing in the nation in the reviewed period, followed by China’s Hong Kong, Japan, China and the Republic of Korea.

The foreign investors landed their capital in 48 cities and provinces across the nation. Bac Ninh attracted the largest amount of foreign capital with nearly $3.2 billion while in the second and third places were Quang Ninh and Ho Chi Minh City, luring over $1.56 billion and $1.55 billion, respectively.

The foreign-invested sector enjoyed a trade surplus of around $27.9 billion (including crude oil), and contributed greatly to the nation’s trade surplus of $12.4 billion during the seven-month period.

As of July 20, Vietnam was home to 40,777 valid foreign projects with total registered capital of $487 billion. Some $309.7 billion was disbursed by the time.