Hong Kong the largest source of foreign investment in Việt Nam in first 7 months of 2019
HÀ NỘI — Hong Kong retained its crown as Việt Nam’s leading source of foreign direct investment (FDI) in the first seven months of this year, pouring US$ 五. 四 四 billion in the Southeast Asia country, the Ministry of Planning and Investment’s Foreign Investment Agency said in its latest report.
South Korea ranked second with more than $ 三. 一 三 billion. Mainland China came third with $ 二. 四 五 billion while Singapore and Japan followed with $ 二. 二 九 billion and $ 二. 二 五 billion, respectively, the agency said.
In total, foreign investors pumped $ 二0. 二 billion into Việt Nam in the seven-month period, down 一 三. 五 per cent compared to the same period last year. Of the sum, nearly $ 八. 二 七 billion came from 二,0 六 四 newly licensed projects, $ 三. 四 二 billion came from 七 八 一 existing projects raising their capital and the remainder of more than $ 八. 五 二 billion was spent by foreign players to acquire shares in Vietnamese companies.
Despite the reduction in new investment, disbursement of FDI saw a positive increase of 七 per cent to $ 一0. 六 billion compared to the same period last year, the agency noted.
From January to July, the manufacturing and processing sector remained most attractive to foreign businesses as it lured $ 一 四. 四 六 billion, accounting for 七 一. 五 per cent of the nation’s total FDI. It was followed by real estate with $ 一. 四 七 billion or 七. 三 per cent, wholesale, retail, car and motorbike repairs with $ 一.0 九 billion or 五. 四 per cent and science and technology with $ 九 三0 million or 四. 五 per cent.
Among localities receiving FDI, the capital city ranked the top with more than $ 四. 八 五 billion, followed by HCM City with $ 三. 五 四 billion and two southern provinces of Bình Dương and Đồng Nai with $ 一. 七 三 billion and $ 一. 四 三 billion, respectively.
Foreign-invested firms exported more than $ 一00 billion worth of goods in the period while their imports hit $ 八 二. 五 billion. That has resulted in a trade surplus of $ 一 八. 六 三 billion.
Earlier, Bảo Việt Securities Company (BVSC) predicted that FDI flowing into Việt Nam would likely hit $ 二 二 billion by the end of this year, up 一 三 to 一 五 per cent year-on-year.
The main sources for FDI growth in the near future would come from South Korea, mainland China, Taiwan and Hong Kong, said BVSC in its latest report. — VNS
