The Tokyu Binh Duong Garden City project in the southern province of Binh Duong. Photo by VNRE.
The figure accounted for 88.8 per cent of the total foreign direct investment in the nation during the period, said the Ministry of Planning and Investment’s Foreign Investment Agency.
The Netherlands ranked second with new registered capital of $46.1 million, representing 1.7 per cent of the total FDI investment in Vietnam.
Taiwan took third place with new projects worth $42.9 million, accounting for 1.6 per cent of the total FDI investment.
During the last three months, several giant Japanese FDI projects were licensed. The most prominent was the Tokyu Binh Duong Garden City project in the southern province of Binh Duong worth $1.2 billion.
Other projects include Bridgestone Tire Sales Vietnam Limited Liability Company’s $574.8 million project in the northern port city of Haiphong and Oshima Shipbuilding Limited Company’s project in the central province of Khanh Hoa costing $180 million.
Thanks to Japanese investment, these three localities also took lead in FDI attraction during the first quarter of this year.
Binh Duong ranked first with a newly registered capital of $1.36 billion. It was followed by Haiphong with $605 million and Khanh Hoa with $180 million.
Investment in real estate rebounds
As of March 20, cities and provinces across Vietnam recorded a total 120 new investment projects worth $2.26 billion, down 22.8 per cent from a year earlier.
Investment of 29 projects had been increased by a combined $368 million during the period.
FDI disbursement reached $2.52 billion during the time, a fall of 0.8 per cent against the same period last year.
The real estate industry attracted several new investment projects during the period with the biggest one valued at $1.2 billion in Binh Duong.
A total of 51 new projects were licensed for the manufacturing and processing industries.