Foreign investments in VN drop by half in Q1

Economy March 29, 2014 00:00

By Asia News Network

2,275 Viewed

Newly registered and additional foreign direct investment flowing into Vietnam tumbled to US$3.3 billion (Bt107 billion) in the first quarter, down by 49.6 per cent from the same period in 2013, according to the General Statistics Office.

However, Vietnam’s disbursement of FDI in the first quarter rose by 5.6 per cent to $2.85 billion. During the period, processing and manufacturing was the most attractive sector to foreign investors, accounting for $2.33 billion or 69.9 per cent of the country’s FDI inflow. Real estate followed with $288.3 million, accounting for 8.6 per cent.
Ho Chi Minh City drew the largest share of FDI with $687.7 million, followed by Hai Duong province with $248.1 million and Binh Duong province with $223.5 million.
South Korea topped the list of overseas investors in Vietnam with $534.2 million worth of newly registered and added capital. Hong Kong followed with $264.5 million, the British Virgin Islands with $238.7 million and Singapore with $230.7 million.
Domestic experts recently forecast that the strong flow of FDI into Vietnam from multinational groups would continue in the 2015-20 period.