Foreign capital still heads to manufacturing, processing

  •  Monday, September 28, 2020

The total amount of foreign investment poured into Vietnam this year to September 20 reached 21.2 billion USD, equivalent to 81.8 percent of the same period last year, reported the Ministry of Planning and Investment.

Illustrative image
Illustrative image

The total amount of foreign investment poured into Vietnam this year to September 20 reached 21.2 billion USD, equivalent to 81.8 percent of the same period last year, reported the Ministry of Planning and Investment.

Of the sum, 13.76 billion USD were disbursed, or 96.8 percent of last year’s same period.

Of the amount, 10.36 billion USD was invested in 1,947 new projects, down 5.6 percent in value and 29.4 percent in project number annually.

As many as 798 projects added a combined over 5.11 billion USD to their investment capital, down 23 percent year-on-year in project number but up 6.8 percent in value.

Up to 5.73 billion USD were spent on shares, equal to 55.1 percent of the same period last year.

Foreign investors invested in 18 sectors, with manufacturing and processing absorbing about 9.9 billion USD, or 46.6 percent of the total investment. It was followed by electricity production and distribution with more than 4.3 billion USD, or 20.6 percent, real estate with around 3.2 billion USD and wholesale and retail 1.3 billion USD.

Among 111 countries and territories investing in Vietnam, Singapore took the lead with 6.77 billion USD, making up 32 percent of the total, followed by the Republic of Korea (RoK) with 3.17 billion USD, China 1.87 billion USD, Japan, Thailand and Taiwan (China).

In term of project number, the RoK came first with 499 projects, ahead of China with 271 projects, Japan 209 and Singapore 173.

Foreign capital was poured into 60 cities and provinces. The Mekong Delta province of Bac Lieu was the top destination with a liquefied natural gas project worth 4 billion USD, or 18.8 percent of the total investment. It was followed by Ho Chi Minh City with 3.25 billion USD, Hanoi 2.92 billion USD, Ba Ria-Vung Tau, Binh Duong and Hai Phong.

On the number of new projects, Ho Chi Minh City topped the list with 719 projects, followed by Hanoi with 409 and Bac Ninh 119.

VNA

Other news
Meat processing at Yen Phuong production facility, Nghia Lo Town.

In 2024, Nghia Lo Town developed seven new products meeting the 3-star OCOP standard and reevaluated seven products after three years of certification.

The project connects transportation in the northern mountainous provinces and links Nghia Lo to the Noi Bai - Lao Cai Expressway.

Yen Bai develops comprehensive transportation infrastructure, prioritizing projects that connect national highways with the Noi Bai - Lao Cai Expressway, regional linkage projects, and those connecting Yen Bai province with localities in the Northern Midlands and Mountainous region. The focus is on key projects and several important regional and inter-regional connecting roads. As of now, the transportation infrastructure system in Yen Bai has achieved significant progress.

Yen Bai currently boasts over 7,440 hectares of tea cultivation, producing more than 69,000 tons annually.

The global Halal market is valued at approximately USD 5 trillion annually, with a strong demand for cinnamon and tea products. This presents significant export opportunities for Yen Bai Province.

Students of Yen Bai Vocational College during an electronics practice session.

In 2024, Yen Bai City achieved vocational training for 2,259 individuals, exceeding the target of 1,790 by 115%. Of this total, 578 people were trained at the college level, achieving 125% of the assigned target of 461.

News by days:
In: This category All categories