AsemconnectVietnam - Vietnam is forecast to lure over 6.88 billion U.S. dollars of foreign direct investment (FDI) in the first four months of 2016, up 85 percent year-on-year, said the country's General Statistics Office (GSO) on Thursday.

 Specifically, during four-month period, Vietnam has granted licenses for 697 new FDI projects with registered capital of 5.08 billion U.S. dollars, up 55.6 percent in volume and 89.9 percent in value year-on-year.

From January to April, industrial manufacturing and processing sector is likely to attract most FDI with 5.246 billion dollars, accounting for 76.2 percent of total Vietnam's FDI.

Expertise, science and technology activities replace real estate sector to claim the second place with registered capital of 334.6 million dollars, accounting for 4.9 percent of total figure.

Wholesale, retail sale, and repairs of autos, motorbikes lures 242.5 million dollars, making up 3.5 percent of total Vietnam's FDI.

Among 41 localities across Vietnam having FDI projects in four-month period, northern Hai Phong city is the most attractive destination for foreign investors with 1.591 billion dollars. Capital Hanoi follows Hai Phong with 595.5 million dollars while southern Binh Duong province ranks third with 329 million dollars, said GSO.

In the first four months, the Republic of Korea is estimated to be the biggest FDI contributor to Vietnam with 2.48 billion dollars, followed by Singapore and China's Taiwan with 502.1 million dollars and 430.1 million dollars, respectively.

China's Hong Kong and China's mainland are projected to contribute 195.6 million dollars and 177.5 million dollars of FDI to Vietnam during January-April period, respectively, said the report.

During the four-month period, FDI sector posts export revenue of 37.8 billion dollars (including sales of crude oil), up 7.3 percent year-on-year, while spending 30.7 billion dollars for imports, down 1.4 percent year-on-year.

Source: Reuters.com