Vietnam attracts registered FDI of $11.1 bln in Jan-May, Ba Ria-Vung Tau top receiver thanks to Hyosung

Registered foreign direct investment (FDI) in Vietnam reached $11.07 billion in the year to May 20, up 2% year-on-year, the Ministry of Planning and Investment reported.

Of the total, $7.94 billion was pledged for 1,227 newly-registered projects, up 50.8% and 27.5% year-on-year, respectively.

Additional capital for 440 existing projects reached $2.08 billion, down 9.3% and 8.7% year-on-year, respectively; while $1.05 billion came from 1,158 capital contribution/acquisition deals, down 68.2% and 9.4%, respectively.

By sector, manufacturing-processing attracted the biggest figure of $7.43 billion, or 67.1% of the total registered capital; followed by real estate with $1.98 billion, or 17.9% of the total.

Locality-wise, Ba Ria-Vung Tau province in the south led the pack with $1.52 billion, accounting for 13.8% of the total registered capital.

The figure was up 12-fold year-on-year, and the Ministry of Planning and Investment attributed this to a $730-million project invested by South Korean industrial chaebol Hyosung.

Other top recipients were Hanoi, Bac Ninh province, Ho Chi Minh City, and Dong Nai province.

Singapore was the biggest source in terms of registered capital with $3.25 billion, up 28.2% year-on-year; Hong Kong with $1.45 billion, up 2.2-fold; Japan with $1.23 billion, down 40.8%; and mainland China with $1.13 billion, down 30%.

In terms of number of projects, China was top, making up 28.3% of the total.

In the period, disbursed FDI reached $8.25 billion, up 7.8% year-on-year.