The Hanoitimes - Foreign investors have poured 10.95 billion USD into new and operational FDI projects and to buy stakes in local companies in the first four months of 2017, up 40.5 percent from the same period last year, according to the Foreign Investment Agency (FIA).
Of the amount, about 4.88 billion USD was drawn into 734 new FDI projects during the period, down 4 percent year on year, while 4.36 billion USD landed into 345 existing ones, a jump of 241.8 percent, the FIA under the Ministry of Planning and Investment said.
The foreign investors paid 1.35 billion USD to purchase stakes in local firms, up 106.8 percent. By April 20, FDI projects in Vietnam disbursed 4.8 billion USD, a year-on- year increase of 3.2 percent. FDI firms dominated Vietnamese exports with 44.05 billion USD worth of commodities and services, including crude oil, during the period, accounting for 71.82 percent of the country’s total export turnover.
Excluding crude oil, exports by FDI companies reached 43.12 billion USD, up 15.8 percent year on year. Processing and manufacturing drew a majority of the total FDI, approximately 70 percent, with 7.36 billion USD. It was followed by mining (1.28 billion USD) and retail and wholesale (546.68 million USD).
The Republic of Korea ranked first out of 83 countries and territories investing in Vietnam with 4.05 billion USD. Japan came in second with 1.85 billion USD, followed by Singapore with 1.1 billion USD. Northern Bac Ninh province led in attracting FDI with 2.7 billion USD, accounting for 25.51 percent of the total amount. It was followed by southern Binh Duong and Kien Giang provinces, 1.53 billion USD and 1.28 billion USD, respectively.
Translated by Tuan Minh