Vietnam attracts FDI worth $11.07 bn in Jan-May 2024: MoIT

Of the total, $7.94 billion went to 1,227 new projects—a YoY rise of 50.8 per cent and 27.5 per cent respectively.

More than $2.08 billion was added to the capital of 440 projects— decreases of 8.7 per cent and 9.3 per cent YoY respectively, a domestic news agency reported.

Foreigners also injected more than $1.05 billion into 1,158 capital contribution and share purchase deals during the period—down 68.2 per cent and 9.4 per cent respectively.

Among the 78 countries and territories that invested in Vietnam in the five-month period, Singapore had the largest share—nearly $3.25 billion—comprising 29.3 per cent of the total and growing by 28.2 per cent YoY.

Foreign firms invested in 17 out of 21 economic sectors, with the processing and manufacturing industry taking the lead as it saw over $7.42 billion in FDI—67.1 per cent of the total and up by 11.9 per cent YoY.

The real estate sector ranked second; the wholesale and retail sales sector ranked third ($514.2 million), followed by transport and warehousing ($342.2 million).

Most FDI was poured into Ba Ria-Vung Tau, Hanoi, Bac Ninh, Ho Chi Minh City, Dong Nai, Quang Ninh, Bac Giang, Hai Phong, Thai Nguyen and Hung Yen.

The disbursement of FDI capital grew by 7.8 per cent to some $8.25 billion during the five-month period.

As of May 20, the country was home to 40,285 valid projects with a combined capital of $481.33 billion.

Fibre2Fashion News Desk (DS)