EU Investment in Vietnam Rises after 4 Falling Years: Ministry

Minh Tam

09:52 14/10/2015

BizLIVE - Direct investment in Vietnam has rebounded after four consecutive years of decline.

EU Investment in Vietnam Rises after 4 Falling Years: Ministry

Flags of EU countries. (Photo: Internet)

Foreign direct investment (FDI) by European Union countries in Vietnam in the first half of this year reached some $700 million, already surpassing that of the whole 2014, after 4 straight years of falling due to the ailing global economy.
As many as 23 EU countries have 1,688 valid investment projects worth $21 billion in Vietnam, or $12.6 million each, said the Foreign Investment Agency under the Ministry of Planning and Investment.
5 countries namely the Netherlands, the UK, France, Luxembourg and Germany make up 82% of FDI of the EU bloc in the Southeast Asian nation.
The manufacturing and processing sector ranks first in EU investment with 573 projects totaling $6.29 billion, or 32% of the total value. The electricity production industry comes second with 19 projects worth $3.5 billion, followed by the real estate sector.
In terms of locality, EU investors have poured the largest amount of money in Hanoi and Ho Chi Minh City, adding to other provinces having energy resources and large industrial parks such as Binh Duong, Dong Nai, Ba Ria-Vung Tau, Da Nang and Hai Phong.