Vietnam Jan-Oct FDI inflows drop 2.5% y/y to $15.8 bln: govt
HANOI, Oct 26 – Vietnam received $15.8 billion in foreign direct investment (FDI) in the first ten months of the year, down 2.5% from a year earlier, the Ministry of Planning and Investment said on Monday.
FDI has been a key driver of Vietnam’s economic growth. Companies with investment from foreign firms account for about 70% of the Southeast Asian country’s exports.
FDI pledges — which indicate the size of future FDI disbursements — dropped 19.4% from a year earlier to $2348 billion, the ministry said in a statement.
Of the pledges, 45.7% were due to be invested in manufacturing and processing, while 20.5% targeted gas, water and electricity distribution, it said.
Singapore was the top source of FDI pledges in the period, followed by South Korea and China.
- Hanoi targets to cut greenhouse gas emissions by 15% in 2030
- Hanoi apartment market: Supply climbs thanks to Covid-19 containment
- Vietnam northern industrial property: Demand stays robust despite prolonged pandemic
- Tien Giang Efforts to Be a Southern Key Economic Zone
- Tien Giang Industrial Zones Ready for Next FDI Wave