Vietnam’s post-pandemic economy has received $7.7 billion from foreign direct investment disbursement in the first five months of the year, rising by 7.8% year-on-year.
In the period, FDI capital for additional registers and stock purchases soared 45.4% and 51.6% year-on-year, respectively, but newly registered inflows shrank 53.4%, according to the Foreign Investment Agency (FIA).
Vietnam welcomed registered FDI inflows of about $11.7 billion in the year to May 20, equivalent to 83.7% of that in the same period last year.
Of the amount, $4.12 billion came from 578 newly registered projects, $5.61 billion was capital expansion of 395 operational projects, and $1.98 billion was capital contribution for stake acquisitions.
In the first five months, processing and manufacturing topped in attracting FDI with $6.8 billion, or 58.2% of the total. Real estate came second with almost $3 billion, accounting for 25.6%. With $398 million, information and communications ranked third, followed by science and technology with $374.8 million.
Among the investing countries and territories, Singapore came first with a total investment of around $3 billion (almost 25.3% of the total), followed by South Korea ($2.06 billion, 17.6%), and Denmark ($1.32 million, 11.3%). From the fourth to sixth were mainland China, Japan, and Hong Kong, respectively.
Denmark was the third thanks to toymaker Lego Group’s $1.3 billion registered for a major smart factory project in the industrial province of Binh Duong, which borders Ho Chi Minh City.
Some other major projects recorded in the period included Bac Ninh province-based Viet Nam-Singapore Industrial Park (VSIP), which raised its capital by nearly $941 million, and Korea’s Samsung Electro-mechanics Vietnam Co., which added $920 million to its investment.
In March, Goertek Technology Vina Ltd. in Bac Ninh raised its investment capital to $565.7 million from $260 million. As for Goertek Precision Industry Vietnam Ltd. in Nghe An, its parent Goertek in January decided to add $400 million to the $100 million manufacturing facility, making it the largest foreign-invested project in the central province.