VN attracts US$10 bil in FDI in eight months

VGP – The foreign direct investment (FDI) in Viet Nam dipped 19% compared to last year’s corresponding period to US$10.23 billion in the first eight months of the year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

September 15, 2014 4:11 PM GMT+7

Out of 51 nations and territories from around the globe investing in Viet Nam during the eight month period, the Republic of Korea (RoK) took the lead with FDI of US$3.22 billion, comprising 31.5% of the cumulative total for the period.

The RoK was trailed by Japan with US$1.27 billion in FDI, Hong Kong at US$1.19 billion and Singapore at US$972.8 million.

The processing and manufacturing industries, with 492 new projects and FDI of US$7 billion, was the leading sector attracting FDI, accounting for 68.4% of the cumulative total for the eight month period.

The real estate sector ranked second with 23 projects at US$1.14 billion, followed by the construction sector with 74 projects at US$552.8 million.

The MPI also reported that as of the end of August, the US was the seventh largest investor in Viet Nam with 703 projects worth US$10.73 billion.

The bulk of US investment was in the service, manufacturing and real estate sectors./VOV./.