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Real estate attracts $110 million in FDI

Released at: 10:56, 03/03/2015

Real estate attracts $110 million in FDI

Figures for first two months put real estate in second place by sector while South Korea leads the way by country.

by Ha An

According to figures from the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment, the real estate sector stands in second place among sectors attracting the most foreign direct investment (FDI) in the first two months, which increased by $111 million and accounted for 9.3 per cent of total investment capital.

Real estate capital flows contributed significantly to the total capital foreign investors poured into 13 sectors. Processing and manufacturing attracted the most, in 65 newly-registered projects and 40 that increased their capital, totaling $952 million and accounting for 79.8 per cent of total registered capital in the first two months.

The FIA figures also showed that South Korea is the largest investor by country, with 4,140 new projects and total registered investment capital of $37.43 billion. South Korean investors poured nearly $10 billion into real estate and construction in first two months, in 81 projects with total investment capital of $6.99 million, accounting for 18.7 per cent of the total.

According to the latest survey by the Korea International Trade Association (KITA), most South Korean enterprises have affirmed that they have plans to expand their business activities in other countries in 2015. Vietnam is considered to be the leading destination.

There are now 158 South Korean construction companies operating in Vietnam, with total investment of over $10 billion. South Korean enterprises are implementing many major projects in 53 cities and provinces in Vietnam.

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