Japan Surges to 2nd Largest Investor in Vietnam

Tuan Minh

16:30 27/06/2016

BizLIVE - Japan has climbed to the second biggest foreign investor in Vietnam in the first half of this year.

Japan Surges to 2nd Largest Investor in Vietnam

Japan has become the second largest investor in Vietnam. (Photo: www.reference.com)

Foreign direct investment (FDI) pledges of Japanese companies in Vietnam have increased to $1.23 billion in the first six months of this year, making the country the second largest investor in the period, up from the fifth position a month earlier, official data showed.
South Korea remains at the top with $3.99 billion, making up 38.2% of total FDI in the period, the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment said Monday.
FDI approvals have totaled $11.28 billion in the six-month period, surging 105.4% from a year earlier. Of the amount, fresh FDI approvals increased 95.3% to $7.5 billion.
Actual FDI has reached an estimated $7.25 billion, rising 15.1% from a year earlier.
Manufacturing and processing continues to be the most appealing sector when attracting $8.06 billion, followed by real estate with $604.8 million.
The LG Display Hai Phong project worth $1.5 billion, licensed to South Korea’s LG Display Co. in April, has helped Hai Phong become the most heavily invested city, with $1.72 billion.
Hanoi, home to a $300 million R&D project by Samsung, and Binh Duong are two other localities where FDI has surpassed $1 billion.