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TRAVELTOURS

Foreign investment to Vietnam surges 82.8 pct in 11 months

Updated at Monday, 27 Nov 2017, 15:11
The Hanoitimes - Vietnam has so far this year enticed roughly 33.1 billion U.S. dollars in foreign investment, gaining a year-on-year rise of 82.8 percent, the country`s Foreign Investment Agency said on Monday.
Of the total, 19.8 billion dollars was poured into 2,293 new projects, nearly 8 billion dollars into 1,100 operational ones, and roughly 5.3 billion dollars into buying shares of companies in Vietnam.
Vietnam's processing and manufacturing sector got the largest foreign investment of more than 14.9 billion dollars, accounting for 45.2 percent of the total registered capital, followed by electricity production and distribution with nearly 8.4 billion dollars, and real estates trading with 2.5 billion dollars.
As of Nov. 20, foreign capital disbursement reached 16 billion dollars, up 11.9 percent year-on-year, said the agency under the Ministry of Planning and Investment.
Among 112 countries and regions having investment projects in Vietnam, Japan ranks the first with combined capital of over 8.9 billion dollars, making up 27 percent of the total, followed by South Korea and Singapore, said the agency.
This year, Vietnam targeted to welcome 11.5 million person-times of foreign visitors and serve 66 million domestic travelers, pocketing 460 trillion Vietnamese dong (20.63 billion dollars) in tourism revenue, said the administration.
Tourism is expected to contribute 10 percent to Vietnam’s gross domestic product by 2020 when the country expects to receive up to 20 million foreign visitors and earn $35 billion in tourism revenue.

 
Chi Le
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