Manufacturing-processing leads in FDI attraction
Updated : Tuesday, June 19, 2018 10:16 AM (GMT+0700)

Themanufacturing-processing industry absorbs more than half (57.9 percent) of theforeign direct investment (FDI) inflow into Vietnam over the past years to May2018, according to the Foreign Investment Agency (FIA) under the Ministry ofPlanning and Investment. 

 
Workers at an electronic spare parts manufacturing company - Illustrative image.
Source: VNA

As of the end of May thisyear, aggregated foreign capital poured into the industry amounted to 198.13billion USD, out of the total FDI value of nearly 323 billion USD in 25,691valid foreign-invested projects. 

Real estate came second,attracting 51.84 billion USD (16.1 percent). 

It was followed by thepower-gas-water production and distribution with 21.71 billion USD. 

The agency reported that inthe first five months of 2018, Vietnam attracted 9.9 billion USD of FDI,equivalent to 81.6 percent of that in the same period last year. 

Of which, the processing andmanufacturing industry lured 5.18 billion USD, or 52.3 percent, while realestate enjoyed 1.07 billion USD, and retail and wholesale sector attracted 1.02billion USD. 

The foreign-invested sectorcontinues to account for a major share of the country’s export turnover. Itearned 66.66 billion USD from exports (including crude oil) in the January-Mayperiod this year, or 71.6 percent of the national figure, representing a 15percent increase year on year. 

Excluding crude oil, thesector’s export value was 65.74 billion USD, up 15.8 percent on a yearly basisand accounting for 70.6 percent of the national figure. 

The sector imported 52.85billion USD in the period, nearly 58.9 percent of the national figure and anincrease of 6.6 percent from the same period last year. 

In total, the FDI sectorposted a trade surplus of 13.81 billion USD (crude oil included) and 12.89billion USD without crude oil in the first five months of 2018.

Source:VNA

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