The real estate sector attracts USD1.72 billion FDI between January and August

Japan was also the largest among 52 foreign investors in Vietnam between January and August, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Following Japan is Samoa with USD889.8 million, 10.5%; South Korea with USD654.7 million, 7.7%; Singapore with USD523.2 million or 6.2%.

During the eight-month period, Vietnam licensed 672 new FDI projects totaling USD5.52 billion, down 43.5% year-on-year. The country also allowed 244 existing projects to to increase their capital on existing investments by USD2.95 billion, down 3.2% from a year earlier.

The manufacturing and processing industry proved most attractive to foreign investors, with USD5.74 billion, followed by real estate with USD1.72 billion.

Binh Duong Province took the lead in luring FDI between January and August, with USD1.84 billion, followed by Haiphong with USD1.05 billion, Dong Nai with USD972 million, HCM City with USD922.9 million, Bac Giang USD902.7 million and Hanoi USD413.1 million.

Most of FDI projects in the eight-month period were small-scale, the largest being one capitalised at USD1.2-billion in the real estate sector, a project named Tokyu Binh Duong urban area invested by a Japanese company.

The Foreign Investment Agency said, FDI disbursement so far this year reached USD7.28 billion, down 0.3% against the same period last year.

The export value of FDI companies, including oil, was estimated at USD45.6 billion, up 34.1% on-year, accounting for 62.2% of the country’s total export value. Their import value was at USD38.5 billion, up 25.5% and making up 52.5% of the nation’s total import value. Between January and August the FDI sector saw a trade surplus of around USD7 billion.