Vietnam lures US$3.1 billion in FDI in first two months of 2023

HANOI, March 4 (Vietnam News/ANN): Vietnam attracted a total committed foreign direct investment of US$3.1 billion in the first two months of 2023, down 38% year-on-year.

According to the Ministry of Planning and Investment, the manufacturing sector was the largest recipient of FDI, with US$2.17 billion followed by property trading with over US$390 million, and wholesale and retail with more than US$200 million.

Singapore was the largest foreign investor in Vietnam during the period.

Taiwan (China) and the Netherlands came second and third. Other large investors included China, the Republic of Korea and Sweden.

Bac Giang was the largest FDI recipient, followed by Ho Chi Minh City.

During the two-month period, disbursement was estimated at 2.55 billion USD, down 4.9% from last year.

Exports by foreign-invested firms (including crude oil) fell by 5.3% year-on-year to 38.4 billion USD, accounting for over three quarters of the country’s total export revenue. - Vietnam News/ANN