Vietnam racks up nearly US$1.9 billion in trade surplus in four months

The foreign-invested sector enjoyed US$14.4 billion in trade surplus while domestic firms reported a trade deficit of US$12.5 billion.

In the first four months to April 20, foreign investors pumped US$12.25 billion in Vietnam, equal to 99.3% of the amount recorded in the same period last year.

Of the amount, nearly US$8.5 billion was poured into 451 new projects, up 24.7% in value and down 54.2% in project numbers year-on-year.

Meanwhile, more than US$2.7 billion was added to 263 existing projects, down 10.6% and 21.5%, respectively.

The remaining investment capital, over US$1 billion, was used for capital contribution and share purchases in a total 1,151 transactions.

Foreign investors landed investment in 17 sectors, with processing and manufacturing absorbing the largest amount of capital (US$5.2 billion), followed by power generation and distribution (US$5.1 billion), real estate (US$778 million), and whole sale and retail sale (US$464 million).

Among 67 countries and territories having investment in Vietnam in the period, Singapore took lead with US$4.8 billion, Japan came second with more than US$2.5 billion, and the RoK was the third largest investor with US$1.5 billion.

Localities that attracted the most FDI were Long An (US$3.3 billion), Can Tho (over US$1.3 billion), and Ho Chi Minh City (US$1.1 billion).

Minister of Planning and Investment Nguyen Chi Dung said that the ministry will work to complete mechanisms with a view to improving business climate for foreign investors, and set up preferential mechanisms to attract investment into the fields of high technologies and source technologies.

(Source: VNA)