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Vietnam exceeds annual foreign investment target

Vietnam exceeds annual foreign investment target

Hanoi, Dec 28 (Prensa Latina) Foreign direct investments (FDI) in Vietnam surpassed the annual plan, totaling 31.15 billion dollars until December 20, the ministry in charge of that area reported on Tuesday.
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Vietnam had expected that foreign capital would reach 30 billion dollars this year, but the sum has already surpassed that of 2020 by more than nine percent, despite the fact that since the end of April, a dangerous resurgence of Covid-19 has clouded the business climate.

Until that date, 1,738 new projects received investment licenses under the FDI regime, a year-on-year drop of 31.1 percent, but registered capital increased by 4.1 percent to 15.2 billion dollars.

The total is completed with nine billion dollars injected into nearly 985 projects already underway and 6.9 billion dollars for the purchase of shares.

Among the 18 sectors that received foreign investment, the leading sector was the processing and manufacturing industry with 18.1 billion dollars, 58 percent of the total, followed by power generation and distribution, real estate, and wholesale and retail trade.

Among the 106 countries and territories that invested in Vietnam in 2021, the top nations are Singapore (10.7 billion dollars, more than one-third), South Korea (around five billion) and Japan (almost four billion).

The Ministry of Planning and Investment estimates that before the end of the year, foreign capital worth some 300 million dollars could still be attracted, which would consolidate FDI as one of the mainstays of the national economy.

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