FDI inflows post double-digit growth

Foreign direct investment (FDI) inflows posted a double digit growth in the first two months, official statistics show.

The figure rose jumped by 21.5% against the same period last year to over US$3 billion, mainly due to strong new capital inflows, reported the Foreign Investment Agency under the Ministry of Planning and Investment.

Of the total figure, Viet Nam granted licenses to 313 new projects worth more than US$2 billion, a year-on-year increase of 6.5%.

Foreign investments went to processing and manufacturing (US$2.5 billion), followed by real estate, wholesale and retail, according to the agency.

The bulk of the investments came from Singapore (US$882 million, making up nearly 26%), China and the Republic of Korea.

In the reviewed period, Binh Duong took the lead in FDI attraction with US$791 million, followed by Ha Noi (US$519 million) and Ho Chi Minh City (US$464 million).

As of February 20, disbursement volume rose by more than 3% to US$ 1.55 billion.

Meanwhile, FDI sector’s exports reached nearly US$20 billion, up some 17% and accounting for 72% of the country’s total export turnover./.

Source: ONLINE NEWSPAPER OF THE GOVERNMENT OF THE SOCIALIST REPUBLIC OF VIET NAM