Vietnam has lured US$19.7 billion in foreign direct investment (FDI) in the first 11 months of this year, according to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).
The FIA said that the new investment is a big figure in the context of economic slowdown, though it is only equivalent to 28 percent of the same period last year.
The According to the FIA, with counting newly-licensed projects, the country now boasts 10,854 projects with a combined registered capital of US$175 billion.
The foreign-invested sector in Vietnam is reported to be in recovery. The sector is estimated to have earned more than US$27 billion from exports in the first 11 months of this year, equalling 52.5 percent of the country’s total export revenue in the period.
The accommodation and food services sectors continue to catch the eye of foreign investors, with newly-licensed projects worth over US$8.7 billion and property business projects worth US$5.9 billion.
The US is taking the lead in investment in Vietnam in the period, with US$8.1 billion in registered capital, followed by the Cayman Islands with US$2.02 billion.
