The Hanoitimes - Foreign direct investment (FDI) commitments in 2018 totaled US$35.46 billion, slipping 1.2% year-on-year, according to the Planning and Investment Ministry.
Disbursement of FDI projects in Vietnam in 2018 jumped to a record high of US$19.1 billion, representing an increase of 9.1% year-on-year despite the ongoing trade tensions between the United States and China, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.
A number of fund managers and experts have said China-based companies may shift production to Vietnam to avoid tariffs.
Data: MPI. Graphic: Nguyen Tung.
According to the agency, 3,046 new projects have been approved with total investment capital of US$18 billion in 2018, down 15.5% year-on-year, while 1,169 existing projects have injected an additional US$7.59 billion, sliding 9.7% year-on-year.
Meanwhile, 6,496 projects have had US$9.89 billion in capital contributed by foreign investors, up 59.8% year-on-year.
Investors have invested in 18 fields and sectors, in which manufacturing and processing continued to attract substantial attention with investment of US$16.58 billion, accounting for 46.7% of total capital approvals.
Real estate was the second most heavily invested, with US$6.6 billion, or 18.6% of total registered capital, followed by retail and wholesale with US$3.67 billion or 10.3%.
Among 112 countries and territories that have invested in Vietnam this year, Japan takes the lead with US$8.59 billion, accounting for 24.2% of total investment. South Korea comes second with US$7.2 billion or 20.3% of total investment, while the third place belongs to Singapore with US$5 billion or 14.2%.
Among 59 cities and provinces having received foreign investment, Hanoi attracted the largest portion of registered capital with US$7.5 billion, or 21.2% of total investment, followed by Ho Chi Minh City with US$5.9 billion, and Hai Phong with US$3.1 billion.
The biggest-ticket projects this year include the smart city project in Dong Anh district, Hanoi with total investment capital of US$4.138 billion by Japanese trader Sumitomo Corporation; the US$1.2-billion polypropylene manufacturing plant by Hyosung Corporation (South Korea) located at Cai Mep Industrial Zone in Ba Ria - Vung Tau; the Laguna hospitality project with additional fund of US$1.12 billion from Singaporean investors.
Additionally, Vietnam licensed the US$600-million Lotte Mall Hanoi project that embraces a hotel, apartment, office, and trade center complex; and the LG Innotek Hai Phong facility with additional capital of US$501 million for manufacturing camera modules.
So far, foreign investors have committed to pour over US$340.1 billion in Vietnam, with South Korea taking the lead with US$62.5 billion or 18.3% of the total, followed by Japan and Singapore.