Vietnam lures 25.4 billion USD of FDI in nine months

12:00 | 27/09/2017

Vietnam attracted 25.4 billion USD in foreign direct investment (FDI) in the first nine months of 2017, up 34.3 percent year on year, reported the Ministry of Planning and Investment (MPI).

Illustrative photo (Source: VNA)

Of the total, 14.5 billion USD went to 1,844 new projects, while 6.75 billion USD was added to 878 underway ones, and 4.16 billion USD was worth company shared bought by foreign investors.

The MPI revealed that as of September 20, 12.5 billion USD of FDI was disbursed, a rise of 13.4 percent over the same period last year.

Exports of the FDI sector (including crude oil) reached 110.8 billion USD, up 21 percent year on year, and accounting for 71.9 percent of the country’s total export revenue. Meanwhile, the sector’s exports (excluding crude oil) hit 108.5 billion USD, an increase of 20.8 percent over the same time in 2016.

So far this year, foreign investors invested in 18 areas, mostly in the processing and manufacturing sector with 12.64 billion USD, or 49.6 percent of total FDI.

Production and distribution of power was the second most attractive sector, which lured 5.37 billion USD (21 percent), followed by the wholesale and retail sector with 1.58 billion USD (6.2 percent).

Major projects licenced in the first nine months of this year include the 1,200 MW Nghi Son 2 thermal power plant in Thanh Hoa with 2.793 billion USD invested by Japan, the RoK-invested Samsung Display Vietnam in Bac Ninh with supplementary capital of 2.5 billion USD, and the 1,109 MW Nam Dinh 1 thermal power plant with 2.07 billion USD invested by Singapore.

VNA