According to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment, Vietnam’s manufacturing sector has proven a magnet for foreign direct investment in the first quarter of this year, drawing 6.54 billion USD, which accounted for 84.9 percent of total registered capital in the period.
During the reviewed time, real estate came in second in FDI attraction with nearly 344 million USD, making up of 4.4 percent of total capital, followed by whole sales and retail sale with 296.8 million USD.
The Foreign Investment Agency reported that by March 20, investment licenses were licensed to 493 projects with a total registered capital of 2.9 billion VND, increasing by 6.5 percent against the same period last year.
Meanwhile, 223 operating projects added 3.94 billion USD in capital, up more than 206 percent from the same period a year ago. There were also 1,077 deals of capital contribution and share purchase by foreign investors with a total value of nearly 853 million USD, a year-on-year surge of 171.5 percent.
As such, the total FDI capital poured into Vietnam in the first three months of 2017 was estimated at 7.71 billion USD, rising 91.5 percent over the same time last year.
Among 71 countries and territories investing in Vietnam, the Republic of Korea is the country’s biggest investor with 3.74 billion USD, making up 48.61 percent of total investment capital. It was followed by Singapore with 911 million USD and China with 823.6 million USD.
Samsung Display Vietnam in northern Bac Ninh province adjusting its capital up by 2.5 billion USD increased the province’s FDI to 2.61 billion USD, accounting for 33.86 percent of the total, making the locality the largest FDI recipient in the first quarter.
Southern Binh Duong province ranked second with a registered capital of 1.39 million USD, or over 18 percent of total foreign investment and HCM City was placed the third with nearly 600 million USD, or 7.78 percent of the total.
Exports of the foreign-invested sector during the period (including crude oil) gained over 31.4 billion USD, up 13 percent from the same period in 2016 and accounting for 71.8 percent of total exports.