30.08.2021, 11:23

Singapore leads foreign investment in Vietnam

 
Singapore leads foreign investment in Vietnam

The foreign investment goes to 18 areas, with the largest investment of US$9.3 billion injected into manufacturing, accounting for 48.4% of total registered capital. (Illustrative image/Internet)   

NDO – Singapore became the largest foreign investor in Vietnam in the first eight months of 2021 with total investment capital of US$6.2 billion as of August 20, accounting for nearly 32.5% of total foreign direct investment (FDI) in Vietnam.


According to the Ministry of Planning and Investment, foreign investors have poured US$19.12 billion into Vietnam as of August 20, 2021, equivalent to 97.9% of the figure for the same period in 2020.

Of the total, newly registered capital and supplemented capital saw increases while capital contribution and share purchases by foreign investors continued to fall during the eight-month period.

The foreign investment went to 18 areas, with the largest investment of US$9.3 billion injected into manufacturing, accounting for 48.4% of total registered capital. Electricity production and distribution came in second for FDI attraction with total investment of nearly US$5.5 billion, occupying 28.7% of total registered capital.

A total of 92 countries and territories have invested in Vietnam during the first eight months of this year, with Singapore being the top investor. Japan was the runner-up with total investment of US$3.2 billion, accounting for 16.8% of total FDI capital into Vietnam and up 94.9% compared to the same period in 2020. It was followed by China, Hong Kong (China), and Taiwan (China).

FDI capital was poured into 58 provinces and cities nationwide, with the largest investment of US$3.6 billion in Long An, making up 18.9% of total registered capital. Ho Chi Minh City ranked second in FDI attraction with nearly US$2.2 billion, occupying 11.4% of total registered capital.

About US$11.58 billion of FDI capital had been disbursed as of August 20, up 2% over the corresponding period in 2020. However, the FDI disbursement in August declined by 12.2% over the same month in 2020 and decreased by 14.3% compared to July 2021 due to the COVID-19 pandemic.

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