China leads foreign investors in Vietnam in seven months
China was the biggest among the 65 countries and territories investing in new projects in Vietnam during the first seven months of 2019, data of the General Statistics Office show.
The factory of the Chinese-invested Jasan Textile & Dyeing Vietnam Co. Ltd in Pho Noi B Industrial Park in Yen My district, Hung Yen province (Photo: VNA)
In the period, new Chinese-invested projects worth 1.78 billion USD was licensed, accounting for 21.6 percent of the total newly registered foreign direct investment (FDI).
The Republic of Korea came second with 1.47 billion USD or 17.8 percent, followed by Japan 1.12 billion USD – 13.6 percent, Hong Kong (China) 991 million USD – 12 percent, and Singapore 942 million USD – 11.4 percent.
The GSO said from the year’s beginning to July 20, about 20.2 billion USD of FDI poured into Vietnam, down 13.4 percent year on year.
Of this sum, 8.27 billion USD was channelled into 2,064 new projects, down 37.4 percent in the capital but up 24.6 percent in the project number compared to the same period last year.
Processing – manufacturing attracted most of the FDI capital, followed by real estate, and wholesale – retail and automobile – motorcycle repair.
Vietnam and the European Union recently signed a bilateral free trade agreement (EVFTA) and an investment protection agreement (EVIPA) which are believed to create huge opportunities for the Southeast Asian nation to attract more foreign investments in the time ahead.
A GSO leader said the EVIPA will promote the EU’s FDI flow into Vietnam, especially in some specialised services like finance, telecommunications, transportation and distribution.
