Vietnam's FDI disbursement in January-May hits five-year high

Workers make shoes for export at a workshop of the footwear company in Hanoi, Vietnam, on April 1, 2022.- Xinhua

HANOI: The total foreign direct investment (FDI) disbursed in Vietnam in the first five months of 2024 is estimated to rise 7.8 per cent year on year to US$8.25 billion, a record for the five-month period in five years, reported the General Statistics Office on Wednesday (May 29).

The processing-manufacturing sector saw the largest amount at $6.5 billion dollars, accounting for 78.9 per cent of the total FDI disbursed in the South-East Asian country during the cited period. It was followed by real estate business at $781 million, and production and distribution of electricity, gas, hot water, steam and air conditioning at $336.2 million.

As of May 20, foreign investment funnelled into Vietnam reached $11.07 billion, a year-on-year increase of 2 per cent, said the office.

Among the 53 countries and regions with newly-licensed projects in Vietnam in the first five months of this year, Singapore was the biggest with $2.92 billion dollars, or 36.8 per cent of the total. - Xinhua