Foreign direct investments gain traction in Vietnam, amassing $5 billion

The southern province of Can Tho received the highest percentage of total FDI 

Around 17 sectors were able to benefit from the foreign capital pumped into the country. NguyenQuangNgocTonkin/Shutterstock

In the last week of February, the Vietnam Ministry of Planning and Investment stated that the country has accumulated approximately USD5.46 billion worth of foreign direct investments (FDI), equal to 84.4 percent of the figure documented in February of last year, reported The Star. 

According to Vietnam News Agency, roughly 126 foreign projects with an overall recorded capital of USD3.31 billion were presented investment licenses. The total capital, however, suffered a year-on-year decline of 33.9 percent. 

Fortunately, 115 existing projects have increased their investment capital by over two folds to a total sum of USD1.61 billion. 

As for foreign investors’ capital contributions and shares purchases, data published revealed a 34.4 percent drop, amounting to USD543.1 million. 

Despite the highs and lows, around 17 sectors were able to benefit from the foreign capital pumped, including processing and manufacturing at USD3 billion and real estate at USD485 million. 

More: Vietnam’s domestic property market is seeing a positive outlook

Such positive sentiment towards the market continues to empower real estate leaders, namely the PropertyGuru Vietnam Property Awards winners Gamuda Land Vietnam, SonKim Land Corporation, Vingroup, and more, giving them the drive and determination to do better and achieve more amidst the seemingly endless battle with the pandemic. 

Of the 46 countries and territories investing in Vietnam, Japan reigns at the topmost, injecting USD1.46 billion or about 30 percent of the total capital, followed by Singapore at USD1.07 billion (19.6 percent) and South Korea at USD1.05 billion (19.3 percent). 

The southern province of Can Tho received the highest percentage of FDI, having acquired USD1.31 billion or 24.2 percent of the total. Ha Phong city trailed behind with USD918 million or 16.8 percent and then Bac Giang with USD573 million or 10.5 percent. 

Know of any award-worthy homes, condos, flats, or other real estate projects in Vietnam? Nominate them for the 2021 Vietnam Property Awards on or before 13 August 2021. Simply visit asiapropertyawards.com/en/award/vietnam-property-awards/ for more details. 

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