FDI reaches US$11.07 billion in first five months of 2024
  • | VNS | May 28, 2024 02:18 PM

Foreign direct investment (FDI) into Vietnam during the first five months of the year has reached US$11.07 billion, a 2 per cent increase compared to the same period in 2023, according to data from the Foreign Investment Agency under the Ministry of Planning and Investment (MPI).

Inside a semiconductor plant in HCM City.

Project actualisation among FDI projects was estimated at around $8.25 billion, a 7.8 per cent increase year-on-year.

By May 20, the Southeast Asian country hosted 40,285 projects with a total registered capital of $481.33 billion and a project actualisation of $305.43 billion, or 63.5 per cent of the total registered investment capital.

The FDI sector posted a trade surplus of $19.57 billion, including crude oil, and a trade surplus of $18.52 billion, excluding crude oil. Meanwhile, the domestic sector recorded a trade deficit of over $11.05 billion in the same period.

In terms of capital, manufacturing and processing led the pack with investment capital of over $7.43 billion, or 67.1 per cent of the sector's total investment, an increase of 11.9 per cent compared to the same period last year.

The property sector ranked second with a total investment of nearly $1.98 billion, or nearly 17.9 per cent of total registered capital, and an increase of 70.8 per cent year-on-year. Following were wholesale, retail, transportation and warehousing, with a total registered capital of over $856.4 million.

In terms of quantity, the manufacturing and processing industry led in the number of new projects with 35.9 per cent of all new projects, as well as capital adjustment, with 62.3 per cent of all projects. Meanwhile, wholesale and retail led in the number of capital contributions and shares purchased, at 43.4 per cent.

Singapore ranked first among 78 countries and territories with investment in Vietnam during the period with nearly $3.25 billion, or 29.3 per cent of total FDI, up from 28.2 per cent in the same period last year. Hong Kong (China) ranked second with nearly $1.45 billion, accounting for 13.1 per cent and an increase of 220 per cent compared to last year.

Vietnam's three other largest investors were China, Japan and South Korea, with China leading in the number of new investment projects with 28.3 per cent.

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