Manufacturing-processing leads in FDI attraction
The manufacturing-processing industry absorbs more than half (57.9%) of the foreign direct investment (FDI) inflow into Vietnam over the past years to May 2018, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
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As of the end of May this year, aggregated foreign capital poured into the industry amounted to US$198.13 billion, out of the total FDI value of nearly US$323 billion in 25,691 valid foreign-invested projects.
Real estate came second, attracting US$51.84 billion (16.1%).
It was followed by the power-gas-water production and distribution with US$21.71 billion.
The agency reported that in the first five months of 2018, Vietnam attracted US$9.9 billion of FDI, equivalent to 81.6% of that in the same period last year.
Of which, the processing and manufacturing industry lured US$5.18 billion, or 52.3%, while real estate enjoyed US$1.07 billion, and retail and wholesale sector attracted US$1.02 billion.
The foreign-invested sector continues to account for a major share of the country’s export turnover. It earned US$66.66 billion from exports (including crude oil) in the January-May period this year, or 71.6% of the national figure, representing a 15% increase year on year.
Excluding crude oil, the sector’s export value was US$65.74 billion, up 15.8% on a yearly basis and accounting for 70.6% of the national figure.
The sector imported US$52.85 billion in the period, nearly 58.9% of the national figure and an increase of 6.6% from the same period last year.
In total, the FDI sector posted a trade surplus of US$13.81 billion (crude oil included) and US$12.89 billion without crude oil in the first five months of 2018.
