Viet Nam attracts less FDI in first half of the year
Friday, June 28,2019AsemconnectVietnam - Foreign investors registered to pour US$1.73 billion into Viet Nam in June, bringing the total amount of foreign direct investment (FDI) committed to the country in the first six months of the year to $18.47 billion, down 9.2 per cent year on year.
More than 1,720 new projects, valued at $7.41 billion, were granted investment licences in the first half of this year, marking a year-on-year decline of 37 per cent. Meanwhile, 628 existing projects were allowed to raise their capital by $2.96 billion, equivalent to just 66 per cent of the same period last year.
Among 19 fields and sectors receiving capital from foreign investors, manufacturing and processing led with $13.15 billion, accounting for 71 per cent of the nation’s total FDI. Real estate came next with $1.32 billion (7.2 per cent) followed by retail and wholesale with $1.05 billion (6 per cent).
The capital city remained the most attractive destination for foreign investors as it lured more than $4.87 billion, equivalent to 26.4 per cent of all FDI pledged in the country. The southern economic hub of HCM City came next with $3.1 billion (17 per cent) and the southern province of Binh Duong claimed third position with $1.37 billion (7.5 per cent).
The foreign-invested sector recorded a trade surplus of $15.7 billion in the January-June period as it exported $85.9 billion worth of goods, up 6 per cent year on year, while its imports topped $70 billion, surging 8 per cent over the same period last year.
However, Viet Nam would not accept all FDI projects, but instead would focus on projects that apply modern and environmentally friendly technologies and are energy efficient, the PM said.
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