Manufacturing and processing industry occupies nearly 85% of FDI in Q1

Foreign enterprises have invested in 18 sectors in the first quarter of this year, with US$6.54 billion poured into the manufacturing and processing industry, accounting for 84.9% of the total registered foreign direct investment (FDI) capital, according to the Foreign Investment Department.

Photo for Illustration (Pho to: Thai Thien).

The first quarter of this year saw over US$7.71 billion in FDI capital, including newly registered capital and supplemented capital, up 91.5% over the same period last year, with about US$3.62 billion disbursed, up 3.4% over the same period in 2016.

The export revenue of the FDI sector, including crude oil, reached over US$31.4 billion in the first quarter, up 13% against the same period in 2016, which accounted for 71.8% of the national export revenue.

After the manufacturing and processing industry, FDI enterprises invested nearly US$344 million in real estate sector, accounting for 4.4% of the total FDI investment. This is followed by wholesale and retail sales, with a total investment of US$296.8 million, occupying 3.85% of the total registered FDI capital.

However, many experts said that Vietnam needs to study and create more conditions for FDI enterprises to improve the value of manufacturing and processing products, as well as encouraging them to expand the scale of their investment, renew technology and diversify investment goals.

As many as 71 countries and territories invested in Vietnam in the first three months of this year with the Republic of Korea ranked first in terms of capital at US$3.71 billion, accounting for 48.6% of the total FDI capital. Meanwhile, Singapore and China came in second and third respectively.

Bac Ninh was the leading province in FDI attraction, which posted a total registered capital of US$2.61 billion, accounting for 33.86% of the total capital. Binh Duong was the runner-up, with US$1.39 billion and Ho Chi Minh City came in third with nearly US$600 million.

(Source: NDO)