Berjaya Corporation Berhad has become the largest foreign investor in Vietnam in January. (Photo: www.thestar.com.my)
Foreign investors committed to pour $1.33 billion into Vietnam as of January 20, jumping 101.2% from the same period of 2015, the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment said Monday.
They won approvals to start 127 projects with a combined $1.01 billion, up 157.9% year-on-year and to increase capital in 56 existing projects by 323.41 million, up 19.2% year-on-year.
The manufacturing and processing sector remained the most appealing, with overseas players pledging to invest $905.14 million, or 67.8% of the total.
Singapore topped investors when committing to pour $295.47 million into Vietnam, accounting for 22.1% of total FDI
in the latter. The runners-up were Malaysia with $243.57 million and China with $179.51 million.
Among the largest projects, Malaysia’s Berjaya Corporation Berhad secured an exclusive 18-year contract worth $210.58 million to invest in and operate a nationwide computerized lottery in Vietnam.
The two other sizable projects are Singaporean Maple’s $110 million apparel plant in the northern province of Bac Ninh
and New Wing Interconnect Technology (Bac Giang)’s $100 million audiphones plant.
Foreign-invested enterprises operating in Vietnam raked in $9.74 billion from exports in January while spending $8.15 billion on imports, leading to a trade surplus $1.6 billion, the agency added.