Vietnam Jan-Feb FDI inflows down 5% y/y to $2.45 blnWednesday, February 26,2020
AsemconnectVietnam - Vietnam received $2.45 billion in foreign direct investments (FDI) in January-Feburary, down 5% from a year earlier, the Ministry of Planning and Investment said on Tuesday.
FDI has been a key driver of Vietnam's economic growth. Companies with FDI account for around 70% of the Southeast Asian country's exports.
FDI pledges — which indicate the size of future FDI disbursements — reached $6.47 billion, down 23.6% against a year earlier, the ministry said in a statement.
Of the pledges, 60.2% are to be invested in electricity distribution, while 27.3% would go to manufacturing and processing, it added.
Singapore was the top source of FDI pledges in the period, followed by China and South Korea.
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