Vietnam attracted a total committed foreign direct investment (FDI) of $3.1 billion in the first two months of 2023, down 38% year-on-year, according to the Ministry of Planning and Investment.
Vietnam attracted a total committed foreign direct investment (FDI) of $3.1 billion in the first two months of 2023, down 38% year-on-year, according to the Ministry of Planning and Investment.
Of the total, $1.76 billion was poured into 261 new projects while an additional $535.4 million was committed to 133 existing projects. Stake purchases by foreign investors were estimated at $797.9 million.
The manufacturing sector was the largest recipient of FDI, with $2.17 billion, accounting for 70.1% of total pledges, followed by property trading with $396.9 million, and wholesale and retail with $202.1 million.
Source: Internet
Singapore was the largest foreign investor in Vietnam during the period, with $978.4 million, equivalent to nearly one-third of the total figure.
Taiwan (China) and the Netherlands came second and third with $407.1 million and $369 million, respectively. Other large investors included China, the Republic of Korea, and Sweden.
Bac Giang was the largest FDI recipient with $824.3 million, followed by Ho Chi Minh City with $369.1 million.
During the two-month period, disbursement was estimated at $2.55 billion, down 4.9% from last year.
Exports by foreign-invested firms (including crude oil) fell by 5.3% year-on-year to $38.4 billion, accounting for over three-quarters of the country’s total export revenue./.
(Vietnam Plus)
Read more: VIETNAM MACRO AND INDUSTRY REPORT
VIETNAM MACRO AND INDUSTRY REPORT 2022 & OUTLOOK 2023