19:29 (GMT +7) - Thursday 21/09/2017

Business

FDI up 21% in first two months

Released at: 18:59, 25/02/2017

FDI up 21% in first two months

Singapore the largest source of FDI, accounting for 25% of the total.

by Nguyen Quoc

Foreign direct investment (FDI) stood at $3.4 billion in the first two months of the year, according to the Foreign Investment Agency, a year-on-year increase of 21.5 per cent.

During the period, 313 new foreign-invested projects with capital of more than $2 billion were licensed, up 6.5 per cent year-on-year, while 137 existing projects added $760 million in capital, equal to 84.5 per cent of the same period in 2016.

Foreign investors also channeled a total of $619 million into local businesses by purchasing stocks; four times higher year-on-year.

There was also a slight increase in FDI disbursement in the first two months, at $1.55 billion.

FDI was poured into 18 industries and sectors. The manufacturing and processing sector remained the most attractive, followed by real estate, wholesale, and retail.

Singapore was the largest source of FDI, with $881.6 million, accounting for 25.8 per cent of the total. China and South Korea ranked second and third, with $721 million and $637 million, respectively.

Among 47 localities nationwide that received FDI in the first two months, southern Binh Duong province took the lead, with $791 million, or 23.2 per cent, followed by Hanoi with $519 million and Ho Chi Minh City with $464.2 million.
 

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