Vietnam lures over 26 billion USD of FDI in nine months

Foreign investors poured 26.16 billion USD into Vietnam in the first nine months of this year, up 3.1 percent over the same period in 2019, according to the General Statistics Office.

Of the figure, 10.97 billion USD was invested in nearly 2,760 new projects, down 22.3 percent in terms of the capital and up 26.4 percent in the number of projects year on year.

Approximately 4.79 billion USD was pledged to existing projects, equivalent to 86.4 percent of the value from a year ago.

Foreign firms spent 10.4 billion USD on capital contributions and share purchases in Vietnam during the period, representing a year-on-year increase of 82.3 percent.

The nine-month foreign direct investment (FDI) disbursement was estimated at 14.22 billion percent, up 7.3 percent year on year.

Processing and manufacturing remained the most attractive sector to foreign investors during the January-September period, drawing 18.09 billion USD, making up 69.1 percent of the total pledged FDI capital. It was followed by property trading at 2.77 billion USD (10.6 percent of the total) and wholesale and retail at nearly 1.4 billion USD (5.4 percent of the total).

Among the total 109 countries and territories investing in Vietnam in the period, Hong Kong (China) was the largest investor with 5.89 billion USD, followed by the Republic of Korea at 4.62 billion USD and Singapore at 3.77 billion USD. Japan overtook China to rank fourth with a registered capital of 3.067 billion USD.

Hanoi was the largest FDI recipient during the period with 6.15 billion USD, accounting for 23.5 percent of the total, while Ho Chi Minh City and Binh Duong came second and third respectively with 4.52 billion USD (17.3 percent) and 2.52 billion USD (9.6 percent).