Disbursed FDI up 10.5% in January

Disbursed FDI up 10.5% in January Disbursed foreign direct investment (FDI) totaled $1.05 billion for the year as at January 20, an increase of 10.5 per cent compared to January 20, 2017, government data reveals. Illustrative photo Foreign investors secured approval to pour $442.6 million into 166 new projects in Vietnam during the month, down 64.4 per cent year-on-year in value and 5.1 per cent in project numbers, a General Statistics Office (GSO) report released on January 29 noted. They also added $456.8 million to 61 existing projects, up 155 per cent from a year earlier. Overseas investors also outlaid $356 million on mergers and acquisitions (M&As) during January, up 54.7 per cent from a year earlier. Manufacturing remained the most appealing sector, attracting $746.8 million into both new and operational projects in January and accounting for 83 per cent of total foreign investment. M&A outlays totaled $162.2 million. Foreign investors poured capital into 24 cities and provinces around the country. Ho Chi Minh City ranked first, with $52 million, or 11.8 per cent of the total, followed by Nam Dinh with $80.2 million, Ninh Thuan $60 million, and Binh Duong $36.7 million. Singapore emerged as the largest investor in Vietnam during the opening month of the year in terms of fresh capital, with $147.7 million. Following were South Korea and Norway, with $70.4 million and $70.1 million. FDI in 2017 hit a new record of $35.88 billion, up 44.4 per cent against 2016. Disbursement also came in at a… [Read full story]

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