FDI inflows drop 15.1 percent year on year in first half
Vietnam recorded a year-on-year decrease of 15.1 percent in foreign direct investment (FDI) inflows to USD15.67 billion as of June 20, according to the Ministry of Planning and Investment (MPI).
Meanwhile, 98 countries and territories invested in Vietnam during the period. The largest investors were Singapore ( USD5.44 billion, equivalent to 34.7 percent of the total), Thailand (USD1.58 billion,10.1 percent), and China (USD1.58 billion , 10.1 percent), followed by Japan, the Republic of Korea, and Taiwan (China), statistics show.
Foreign investors channeled capital into 57 provinces and centrally-run cities, with Bac Lieu province the top destination (USD4 billion, 25.5 percent of the total), followed by Ho Chi Minh City (over USD2 billion, 12.9 percent), Ba Ria – Vung Tau province (USD1.95 billion , 12.4 percent), Hanoi, Binh Duong province, and Hai Phong city.
In its report, the MPI also pointed out that exports by the FDI sector in the first six months declined in both value and their proportion in Vietnam’s total overseas shipments, estimated at 79.8 billion USD (including crude oil) – equivalent to 93.3 percent of the figure in the same period last year and 65.9 percent of the country’s total figure, and 79 billion USD (excluding crude oil) – equivalent to 93.6 percent of the figure in the same period last year and 65.2 percent of the six-month value.
This sector’s imports stood at USD65.6 billion , representing 94.6 percent of the figure in the same period last year and 56 percent of the country’s total imports in the first half of 2020.
FDI firms still posted a trade surplus of USD14.2 billion , including crude oil, and USD13.4 billion , excluding crude oil, during the period. That helped make up for the deficit of nearly USD10.2 billion in the domestic sector, contributing to Vietnam’s trade surplus of over 4 billion USD during the six months, the MPI noted.
The value included USD8.44 billion registered for 1,418 new projects, over USD3.7 billion added to 526 existing projects, and USD3.51 billion spent on contributing capital to or purchasing shares of domestic firms.
The Sapporo Vietnam beer factory in the southern province of Long An (Photo: VNA)
Meanwhile, 98 countries and territories invested in Vietnam during the period. The largest investors were Singapore ( USD5.44 billion, equivalent to 34.7 percent of the total), Thailand (USD1.58 billion,10.1 percent), and China (USD1.58 billion , 10.1 percent), followed by Japan, the Republic of Korea, and Taiwan (China), statistics show.
Foreign investors channeled capital into 57 provinces and centrally-run cities, with Bac Lieu province the top destination (USD4 billion, 25.5 percent of the total), followed by Ho Chi Minh City (over USD2 billion, 12.9 percent), Ba Ria – Vung Tau province (USD1.95 billion , 12.4 percent), Hanoi, Binh Duong province, and Hai Phong city.
In its report, the MPI also pointed out that exports by the FDI sector in the first six months declined in both value and their proportion in Vietnam’s total overseas shipments, estimated at 79.8 billion USD (including crude oil) – equivalent to 93.3 percent of the figure in the same period last year and 65.9 percent of the country’s total figure, and 79 billion USD (excluding crude oil) – equivalent to 93.6 percent of the figure in the same period last year and 65.2 percent of the six-month value.
This sector’s imports stood at USD65.6 billion , representing 94.6 percent of the figure in the same period last year and 56 percent of the country’s total imports in the first half of 2020.
FDI firms still posted a trade surplus of USD14.2 billion , including crude oil, and USD13.4 billion , excluding crude oil, during the period. That helped make up for the deficit of nearly USD10.2 billion in the domestic sector, contributing to Vietnam’s trade surplus of over 4 billion USD during the six months, the MPI noted.
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