Illustration photoThe Republic of Korea retained its position as Viet Nam's leading source of foreign direct investment (FDI) in the first five months of this year, according to the Ministry of Planning and Investment.
The ministry reported that Japan ranked second withUS$50.6 billion (accounting for 15.7% of total FDI), followed by Singapore and Taiwan,British VirginIslands, Hong Kong, respectively.
In the first five months of 2018,theRoKwas the largest among 126 countries and territories investing in the country, with total registered capital of US$59.46 billion (making 18.4% of total FDI).
This was mainly attributed to the additional US$500 million plus invested by LGInnotekCo in a project in the northern port city ofHaiPhong.
By May, 20 2018, foreign investors pour money in 19 among 21 sectors of Viet Nam economy classification system.
Specifically, theyhave committed to pouring US$9.9 billion in projects in Viet Nam in the first five months this year, marking a year-on-year decline of 18.4%, government data has shown.
According to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA), manufacturing and processingis the most attractive sector to foreign investors, receiving commitments of US$198.13 billion and accounting for more than half of the total commitments (equivalent to 57.9%),
Manufacturing remained the most attractive sector to foreign investors, receiving commitments of $3.44 billion and accounting for more than half of the total commitments.
The retail and wholesale sectors received the second largest chunk of FDI with $531 million or 9.2%, followed by the real estate sector with $486 million or 8.4%.
HCM City, Viet Nam’s economic hub, continued to be the largest recipient of FDI during the period with $1.7 billion, while the northern port city ofHaiPhongreceived $925 million to take the second place.
The third largest recipient of FDIwas the southern province ofBinhDuong with investment worth $565 million./.