RoK becomes largest FDI investor in Vietnam in five months

According to the Foreign Investment Agency under the Ministry of Planning and Investment, the RoK was followed by Japan with US$1.94 billion and Singapore with US$1.23 billion.

The agency reported that as of May 20, total foreign direct investment poured into Vietnam reached US$12.13 billion, up 10.4% year-on-year.

Of the sum, US$5.59 billion was injected in 939 new projects, 73.9% of the figure in the same time last year, and 4.74 billion was added to underway projects, a rise of 83% year on year. The rest US$1.79 billion was invested in 2,061 capital contribution and share buying deals.

In the first five months of 2017, FDI disbursement reached US$6.15 billion, an increase of 6% from last year.

Processing and manufacturing industry attracted the most capital at US$80.9 billion, 66.7% of total FDI, followed by mining at US$1.28 billion and wholesale and retail sector at US$798 million.

FDI sector exports in the first five months of this year (including crude oil) hit US$57.24 billion, up 19% year on year making up 72.19% of the country’s total export revenue. The sector’s exports excluding crude oil were US$56.15 billion, rising 19% over the same time last year.

The agency reported that among 58 cities and provinces attracting FDI in the months, northern Bac Ninh took the lead with US$2.76 billion, accounting for 22.7% of the total.

The southern province of Binh Duong came second with US$1.64 billion, followed by Ho Chi Minh City with US$1.39 billion.

Major projects licenced in the first five months included the RoK-invested SamSung Display Vietnam project which is added with US$2.5 billion in Bac Ninh, the US$1.27 billion B-O Mon gas pipe project invested by Japanese investors in Kien Giang, and a US$458.8 million project by Polytex Far Eastern Vietnam from Taiwan (China).