RoK becomes largest FDI investor in Vietnam in five months
The Republic of Korea (RoK) was the largest among 91 countries and territories investing in Vietnam in the first five months of 2017, with total foreign direct investment (FDI) of 4.41 billion USD, 36.4 percent of total FDI in the period.
Hanoi (VNA) – TheRepublic of Korea (RoK) was the largest among 91 countries and territoriesinvesting in Vietnam in the first five months of 2017, with total foreign direct investment (FDI) of 4.41billion USD, 36.4 percent of total FDI in the period.
According to the ForeignInvestment Agency under the Ministry of Planning and Investment, the RoK wasfollowed by Japan with 1.94 billion USD and Singapore with 1.23 billion USD.
The agency reported that as ofMay 20, total foreign direct investment poured into Vietnam reached 12.13billion USD, up 10.4 percent year-on-year.
Of the sum, 5.59 billion USD was injectedin 939 new projects, 73.9 percent of the figure in the same time last year, and4.74 billion was added to underway projects, a rise of 83 percent year on year.The rest 1.79 billion USD was invested in 2,061 capital contribution and sharebuying deals.
In the first five months of 2017,FDI disbursement reached 6.15 billion USD, an increase of 6 percent from lastyear.
Processing and manufacturingindustry attracted the most capital at 80.9 billion USD, 66.7 percent of totalFDI, followed by mining at 1.28 billion USD and wholesale and retail sector at798 million USD.
FDI sector exports in the firstfive months of this year (including crude oil) hit 57.24 billion USD, up 19percent year on year making up 72.19 percent of the country’s total exportrevenue. The sector’s exports excluding crude oil were 56.15 billion USD,rising 19 percent over the same time last year.
The agency reported that among 58cities and provinces attracting FDI in the months, northern Bac Ninh took thelead with 2.76 billion USD, accounting for 22.7 percent of the total.
The southern province of BinhDuong came second with 1.64 billion USD, followed by Ho Chi Minh City with 1.39billion USD.
Major projects licenced in thefirst five months included the RoK-invested SamSung Display Vietnam project whichis added with 2.5 billion USD in Bac Ninh, the 1.27 billion USD B-O Mon gaspipe project invested by Japanese investors in Kien Giang, and a 458.8 millionUSD project by Polytex Far Eastern Vietnam from Taiwan (China).-VNA
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In the first five months of 2017, total foreign direct investment (FDI) into Vietnam, including newly register capital, additional investment and share purchase, amounted to 12.13 billion USD, up 10.4
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Illustrative photo (Source: VNA) 
