Vietnam Jan-May FDI inflows rise
published : 24 May 2019 at 16:57
HANOI: Vietnam received US$7.3 billion in foreign direct investments (FDI) in the first five months of this year, up 7.8% from a year earlier, the Ministry of Planning and Investment said on Friday.
FDI has been a key driver of Vietnam's economic growth. Companies with FDI account for more than 70% of the Southeast Asian country's exports.
FDI pledges — indicating the size of future FDI disbursements — rose 69.1% in January-May from a year earlier to $16.74 billion, the ministry said.
Of the pledges, 71.8% would be invested in manufacturing and processing, and 8.2% for real estate, the ministry said.
Hong Kong was the top source of FDI pledges in the period, followed by South Korea and Singapore, it added.