FDI inflows show healthy glow in May

May 28, 2013 | 17:00

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Foreign direct investment disbursement and commitment rose this month maintaining the recovery in inflows this year.

The Ministry of Planning and Investment’s Foreign Investment Agency reported foreign direct investment (FDI) disbursement inflows in the year to May 20 rose 1.6 per cent from a year ago to $4.58 billion and FDI pledges rose 8.9 per cent to $8.51 billion.

Japan was the largest investing country in Vietnam with approximately $3.7 billion, accounting for 43.4 per cent of total FDI pledges to Vietnam. Following are Singapore and Russia, accounting 27.7 and 11.9 per cent respectively, according to the agency.

Most FDI pledges were in manufacturing industries, with $7.5 billion, accounting for nearly 90 per cent of total investment pledges, following are property and retail.

The majority of FDI pledges in manufacturing industries reflects Vietnam's position as an alternative place for manufacturing investments for many multinational companies, led by Samsung Electronics which pledged to invest additional $2 billion in Vietnam in March.

The agency reported export, excluding crude oil export, revenues of FDI companies operating in Vietnam hit $29.7 billion from January to May, up 25.8 per cent from a year earlier and accounting for 60 per cent of Vietnam's total export revenue.

By By Ngoc Linh

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