Foreign investors pour 11 bln USD in local projects, firms
Foreign investors have poured 10.95 billion USD into new and operational FDI projects and to buy stakes in local companies in the first four months of 2017, up 40.5 percent year on year.
Processing and manufacturing sector drew a majority of the total FDI, approximately 70 percent, with 7.36 billion USD. (Photo: VNA)
Hanoi (VNA) – Foreign investors have poured 10.95 billion USD into new andoperational FDI projects and to buy stakes in local companies in the first fourmonths of 2017, up 40.5 percent from the same period last year, according tothe Foreign Investment Agency (FIA).
Of theamount, about 4.88 billion USD was drawn into 734 new FDI projects during theperiod, down 4 percent year on year, while 4.36 billion USD landed into 345 existingones, a jump of 241.8 percent, the FIA under the Ministry of Planning andInvestment said.
The foreigninvestors paid 1.35 billion USD to purchase stakes in local firms, up 106.8percent.
By April 20,FDI projects in Vietnam disbursed 4.8 billion USD, a year-on- year increase of3.2 percent.
FDI firmsdominated Vietnamese exports with 44.05 billion USD worth of commodities andservices, including crude oil, during the period, accounting for 71.82 percentof the country’s total export turnover.
Excludingcrude oil, exports by FDI companies reached 43.12 billion USD, up 15.8 percentyear on year.
Processingand manufacturing drew a majority of the total FDI, approximately 70 percent,with 7.36 billion USD.
It wasfollowed by mining (1.28 billion USD) and retail and wholesale (546.68 millionUSD).
The Republicof Korea ranked first out of 83 countries and territories investing in Vietnamwith 4.05 billion USD. Japan came in second with 1.85 billion USD, followed bySingapore with 1.1 billion USD.
Northern BacNinh province led in attracting FDI with 2.7 billion USD, accounting for 25.51percent of the total amount. It was followed by southern Binh Duong and KienGiang provinces, 1.53 billion USD and 1.28 billion USD, respectively. - VNA
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Processing and manufacturing sector drew a majority of the total FDI, approximately 70 percent, with 7.36 billion USD. (Photo: VNA) 
