Vietnam attracts over 29 billion USD in FDI in ten months

The printed circuit board production line of the Nexcon Vietnam Co. Ltd, invested by the Republic of Korea, in Bac Ninh province (Photo: VNA)

Hanoi (VNA) - Vietnam attracted 29.11 billion USD in foreign direct investment (FDI) in the first ten months of 2019, up 4.3 percent over the same period last year, according to the Ministry of Planning and Investment.

Of the figure, 12.83 billion USD was poured into nearly 3,094 new projects, up 25.9 percent in the number of projects year on year.

Approximately 5.47 billion USD was pledged to existing projects, just equivalent to 83.6 percent of the value from a year ago.

Foreign firms invested 10.81 billion USD in Vietnam during the period through capital contributions and share purchases, representing a year-on-year increase of 70.5 percent and accounting for 37.1 percent of the total registered capital.

Processing and manufacturing remained the most attractive sector to foreign investors during the January-October period, drawing 18.83 billion USD, making up 68.1 percent of the total FDI pledges. It was followed by property trade at 2.98 billion USD (10.2 percent of the total) and wholesale and retail.

Among the total 107 countries and territories investing inVietnam, Hong Kong (China) was the largest investor with 6.45 billion USD, followed by the Republic of Korea with 5.52 billion USD and Singapore with 4.21 billion USD.

Hanoi was the largest FDI recipient during the period with 6.61 billion USD, accounting for 22.7 percent of the total. Ho Chi Minh City came second with 4.96 billion USD (17 percent), followed by Binh Duong, Dong Nai, and Bac Ninh./.