FDI disbursement hits US$16 billion in eleven months

Official figures show FDI pledges rose by nearly 83% year on year to an estimated US$33 billion, of which US$19.8 billion were committed to approximately 2,300 new projects.

Manufacturing remained the largest FDI recipient, accounting for 45.2% of total pledges in the first eleven months of 2017, followed by power generation and distribution at 25.3% and property development at 7.6%.

Japan outperformed the Republic of Korea to become the largest foreign investor in Vietnam, pouring a total of US$8.94 billion. Korea fell to the second position with US$8.18 billion, followed by Singapore's US$4.69 billion.

Ho Chi Minh City remained the largest recipient of FDI, attracting US$5.68 billion, while the provinces of Bac Ninh and Thanh Hoa trailed behind with US$3.28 billion and US$3.16 billion respectively.

According to the FIA, the foreign sector exported goods, excluding oil, worth US$140.65 billion in the first eleven months of 2017, accounting for 71.2% of Vietnam's total export revenues.

Meanwhile the sector's imports were estimated at US$114.5 billion, up 23.2% from the previous year and accounting for 60% of Vietnam's total imports.

(Source: NDO)