Ministry of Planning and Investment officials on Monday highlighted that this amount accounted for an inter-annual increase of 7.2% and set up the country as Southeast Asia’s first foreign capital receiver and eighth in the world.
Out of that total, 16.7 billion dollars were assigned to 3.883 new projects, and about 6 billion dollars to over 1,300 projects that were already underway. This figure was completed with purchases of shares and capital contributions.
The processing and manufacturing sector attracted the highest amount of investment by attracting over 24.5 billion dollars, 45.8% of the total. It was followed by real estate sector, wholesale and retail trade and technology.
Among the more than 100 nations and territories investing in Vietnam, South Korea was confirmed as the first to place 7.9 billion dollars in 2019, more than a fifth, followed closely by Hong Kong, with 7.8 billion dollars.
Vietnam’s FDI key receptors were Hanoi and the southern Ho Chi Minh City, with 8.45 billion and 8.3 billion dollars, respectively.
A recent US News and World Report list rated Vietnam in eighth place among the 29 nations that receive more FDI and the first in Southeast Asia, ahead of Malaysia (13th place), Singapore (14) and Indonesia (18).
After undertaking the Doi Moi (Renovation) policy in 1986, Vietnam’s economy was gradually becoming one of the world´s fastest economy growing, due in large part to the capital flow from other nations.
In 2018, Vietnam’s FDI reached 35.4 billion dollars, a record figure that has already been left behind.
According to market experts, Vietnam is a very reliable destination for investments due to the guarantees offered to them, the political and social stability of the country and the dynamism of its economy.
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