Vietnam: FDI to Vietnam sees increase in Jul 20

• Vietnam attracted USD3.15bn worth of foreign direct investment (FDI) and capital for share purchases from 1 Jul 20 to 20 Jul 20, representing a rise of 79.8% y/y and 76.2% against Jun 20, the latest updates of the Foreign Investment Agency showed.
• Of the figure, USD1.02bn was registered to be poured into 202 new projects, up 2.8% y/y and 19.1% over Jun 20. Some 93 existing projects increased their registered capital by a total of USD992mn, more than two times higher y/y. Foreign investors spent nearly USD1.13bn to buy stakes at 334 projects, 2.8 times higher y/y.
• From 1 Jan 20 to 20 Jul 20, Vietnam attracted a total sum of USD18.82bn foreign investment, equivalent to 93.1% y/y. A sum worth USD10.12bn was disbursed in the seven-month period, equivalent to 95.9%.
• According to the Foreign Investment Agency, FDI flowed into 18 sectors in Jan-Jul 20, led by the manufacturing and processing industry with total registered capital of more than USD8.96bn. Power production and distribution ranked second with a total registered capital of USD3.95bn.
• Vietnam saw the FDI inflow coming from 104 countries and territories from 1 Jan 20. Singapore was the largest investor in the period which registered to pour USD6.44bn in Vietnam, followed by the Republic of Korea with USD2.8bn, and China with USD1.7bn. In terms of new projects, the Republic of Korea ranked first with 421 projects, China came second with 237 projects and Japan came third with 175 projects.
• The agency said that the COVID-19 pandemic was weighing on FDI attraction in the period but also created significant opportunities for Vietnam to capture the capital flow spurred by the global shift of value chains, given the country’s improved investment climate and infrastructure system.
• Vietnam set the target of attracting USD35-36bn FDI in 2020.

External Link : https://vietnamnews.vn/economy/770243/fdi-to-vn-sees-increase-in-july.html