HANOI: Vietnam attracted US$31.8bil in foreign direct investment (FDI) in January-November of 2019, up 3% year-on-year, according to the Foreign Investment Agency (FIA).
Of the total, US$14.68bil was invested in more than 3,470 new projects, up 28% for the number of projects but down 7% in terms of capital.
Up to US$5.87bil was pledged for 1,256 existing projects, equivalent to 80% of the value from a year ago, but up 20% in the terms of the number of projects.
During the period, foreign firms invested US$11.24bil in Viet Nam through capital contributions and share purchases. This was a yearly rise of 47% and accounted for 35.4% of the total registered capital.
The January-November FDI disbursement reached an estimated US$17.69bil, up 7.2% from the previous corresponding period, the FIA said.
Notably, from January to November, the number of business delegations arriving in Viet Nam to seek investment opportunities increased by 30% compared to last year’s corresponding period. Most were from Japan, South Korea, mainland China, Hong Kong and Singapore.
Processing and manufacturing remained the most attractive sector to foreign investors during the 11 month period, drawing US$21.56bil, making up 67.8% of total FDI pledges. Property trading came second at US$3.31bil (10.4% of the total), followed by wholesale and retail and science and technology.
Among the 117 countries and territories investing in Viet Nam, Hong Kong was the largest investor with US$6.69bil or 57% of the nation’s total FDI. South Korea was second with US$5.73bil (18%) and Singapore with US$4.47bil (14%).
The country’s other sources of FDI were mainland China and Japan.