FDI down 15.6 pct

Update: 22:32 | 27/02/2021

Foreign direct investment pledges in the first two months fell 15.6 percent year-on-year to $5.46 billion, according to the Foreign Investment Agency.

The investment came into 17 sectors, led by manufacturing with over $3 billion and the power sector with around $1.44 billion and property with $485 million.

FDI down 15.6 pct, Foreign direct investment,

Employees work at the assembly plant of an FDI car factory in Hai Duong Province, northern Vietnam. 

Japan was the leading investor with $1.64 billion, followed by Singapore and South Korea.

The investments went to 43 provinces and cities, including $1.31 billion to Can Tho City, $918 million to Hai Phong City and $573 million to Bac Giang Province.

Some of the major projects into which the FDI went include the $1.3 billion O Mon 2 Thermal Power Plant in the southern city of Can Tho by a joint venture between Vietnam Trading Engineering Construction JSC and Japan’s Marubeni Corporation, a $270-million plant to manufacture laptops and tablets in Bac Giang by Taiwan’s FuKang Technology Company and $750 million into LG Display’s existing facility in Hai Phong.

Foreign direct investment pledges fell by 25 percent 2020 to $28.5 billion as the Covid-19 pandemic prevented air travel and dampened investor sentiment.

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Source: VnExpress

 
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