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Hai Phong tops FDI attraction in eight months

Hai Phong tops FDI attraction in eight months

During the period, the port city reported 30 newly-licensed projects and 21 existing projects registering to adjust capital, notably including the LG Display Hai Phong project, licensed on April 15, with a registered capital of US$1.5 billion.

Hanoi ranked second regarding FDI attraction in the first eight months with US$1.782 billion in both new and additional pledges, representing 12.4% of the total, followed by Dong Nai and Binh Duong provinces with US$1.59 billion and US$1.38 billion respectively.

As of August 20, Vietnam had attracted approximately US$14.336 billion in new and additional FDI pledges, up 7.7% compared to the same period last year. Nearly 1,620 projects were licensed with total registered capital of US$9.795 billion, up 24.3% year on year, while 770 projects registered to increase capital by roughly US$4.57 billion, equivalent to 83.7% of the 2015 figure.

The processing and manufacturing industry continued to be the largest attraction for foreign investors, drawing US$10.53 billion in both new and additional FDI pledges, accounting for 73.3% of the period’s total. Real estate came in second with US$836.2 million, while the science and technology sector ranked third with US$622.3 million.

The Republic of Korea led the 65 countries and territories investing in Vietnam from January to August with US$4.8 billion (33.4% of the total FDI figure), followed by Singapore at US$1.68 billion (11.6%) and Japan at US$1.46 billion (10.1%).