Making news

Hanoi most attractive to foreign investors in nine months

Hanoi led 59 cities and provinces receiving foreign direct investment (FDI) in the first nine months of this year by luring 6.15 billion USD, or 23.5 percent of the total FDI that Vietnam got in the period.

According to the General Statistics Office (GSO), Hanoi was followed by Ho Chi Minh City with 4.52 billion USD, accounting for 17.3 percent of the total FDI.

The southern industrial hub of Binh Duong came third with 2.52 billion USD, accounting for 9.6 percent of the total FDI flowed into Vietnam so far this year.

The GSO reported that Vietnam attracted 26.16 billion USD in the first nine months of this year, up 3.1 percent over the same period in 2019.

Of the figure, 10.97 billion USD was poured into nearly 2,760 new projects, up 26.4 percent in the number of projects and down 22.3 percent in terms of the capital year on year.

Approximately 4.79 billion USD was pledged to existing projects, just equivalent to 86.4 percent of the value from a year ago.

Foreign firms invested 10.4 billion USD in Vietnam during the period through capital contributions and share purchases, representing a year-on-year increase of 82.3 percent and accounting for 39.8 percent of the total registered capital.

The nine-month foreign direct investment (FDI) disbursement was estimated at 14.22 billion percent, up 7.3 percent year on year.

In terms of investment areas, processing and manufacturing remained the most attractive sector to foreign investors during the January-September period, drawing 18.09 billion USD, making up 69.1 percent of the total FDI pledges. It was followed by property trading at 2.77 billion USD (10.6 percent of the total) and wholesale and retail at nearly 1.4 billion USD (5.4 percent of the total).

Among the total 109 countries and territories investing in Vietnam, Hong Kong (China) was the largest investor with 5.89 billion USD, followed by the Republic of Korea at 4.62 billion USD and then Singapore at 3.77 billion USD. Japan overtook China to rank fourth with a registered capital of 3.067 billion USD.

Major projects invested by foreign investors in the first nine months of this year include a deal of Hong Kong’s Beerco Limited’s buying of Vietnam Beverage; the LG Display Hai Phong, which received additional 410 million USD; and a Chinese-invested project with 280 billion USD.