FDI disbursement in Vietnam increased 7.6% year-on-year to $12.7 billion in between January and October. Photo: Internet
Disbursement of foreign direct investment (FDI
) in Vietnam totaled $12.7 billion in the first ten months of this year, representing an increase of 7.6% from a year earlier, the Ministry of Planning and Investment (MPI
) has said in an announcement.
Fresh FDI approvals reached $12.26 billion in the ten-month period, down 1.3% year-on-year, while overseas investors won approval to add $5.35 billion to operational projects, falling 22.1% year-on-year.
Manufacturing and processing remained the most heavily-invested sector when attracting $12.84 billion, accounting for 72.9% of total FDI commitments.
South Korea continued to hold on the top position among the largest investors in the Southeast Asian country, with $5.62 billion. Japan surpassed Singapore to become the second-biggest investor in Vietnam, with $1.92 billion.
According to the ministry, foreign-invested enterprises reaffirm their status as the driver of Vietnam’s external trade.
The overseas companies raked in $102.7 billion from exports between January and October, accounting for 71.2% of the country’s export turnover. They spent $83.22 billion on imports in the period, accounting for 59.2% of total import value.
Foreign firms posted a trade surplus
of $19.48 billion in the ten-month period, including revenue from crude oil.