Foreign investment pledges reach US$1.4 billion in January

Vietnam attracted US$1.423 billion in both new and additional foreign direct investment (FDI) in January, up 23% year on year, according to the General Statistics Office.

Photo for Illustration (Photo: Thai Thien).

Meanwhile, disbursement was estimated at US$850 million, an 6.3% increase over the same month last year.

FDI pledges in January mainly flowed to the manufacturing sector, with US$834.9 million or more than two thirds of total investment, followed by US$297.4 million in the property sector.

In January the southern province of Binh Duong was the largest recipient of FDI, attracting over US$666 million. Bac Giang and Ba Ria–Vung Tau came in second and third with US$159.5 million and US$108.7 million, respectively.

The two economic hubs of Ho Chi Minh City and Hanoi received respective pledges of US$75.2 million and US$30 million.

Singapore was the largest foreign investor last month, accounting for nearly one third of the total investment in Vietnam, followed by the Republic of Korea and China.

(Source: NDO