A GSO report showed that 175 FDI projects worth a combined US$1.2 billion had been approved in the year to January 20, up 37.8% and 23% from a year earlier, respectively. Foreign businesses poured an extra US$179.2 million into 76 operational projects in the nation.

 

Overall, the first month saw fresh FDI pledges for existing and newly approved projects growing 6.6% year-on-year to US$1.4 billion. Meanwhile, FDI disbursements stood at some US$850 million in January, rising 6.3% against the same month last year.

 

According to the GSO, foreign investors were mainly committed to the manufacturing-processing industry with US$834.9 million, accounting for 67.1% of the total. The real estate sector attracted US$297.4 million in foreign capital (23.9%) and other sectors US$111.5 million (9%).

 

FDI approvals for the manufacturing-processing industry had exceeded US$1 billion by end-January, or 71.2% of the total. The respective figures for the property sector were US$297.4 million and 20.9%, and other business fields a combined US$112.2 million and 7.9%.

 

Among 31 countries and territories that had projects in Vietnam in January, Singapore was the biggest investor with US$416.7 million pledged, making up 33.5% of the total. South Korea came second with US$347.8 million  (28%), followed by China with US$310.1 million (24.9%),  Japan with US$56.8 million (4.6%) and Malaysia with US$44.1 million (3.5%).

 

Twenty-six provinces and cities awarded investment certificates to new FDI projects in January. Binh Duong took the lead in fresh FDI approvals with US$666.2 million, representing 53.6% of the country’s total.

 

Bac Giang ranked second with US$159.5 million (12.8%), followed by Ba Ria-Vung Tau with US$108.7 million (8.7%), HCMC with US$75.2 million (6%), Hai Duong with US$61.8 million (5%), Tay Ninh with US$32 million (2.6%) and Hanoi with US$30 million (2.4%).