In the first ten months, the Republic of Korea (RoK) poured US$6.22 billion of foreign direct investment in Viet Nam, making it the biggest foreign investor, according to the Foreign Investment Agency (FIA).
In the first ten months, the Republic of Korea (RoK) poured US$6.22 billion of foreign direct investment in Viet Nam, making it the biggest foreign investor, according to the Foreign Investment Agency (FIA).
The FIA under the Ministry of Planning and Investment reportedthat as of October 20 the RoK opened 583 new FDI projects with US$2.278 billion of newly-registered capital and added US$3.942 billion to 257 existing projects.
In January-October, total FDI investment amounted to US$6.22 billion.
Korean investors participated in 16 sectors, mainly in the processing and manufacturing industries with 330 newly-registered projects and 217 expanded ones worth US$5.633 billion (accounting for 90.5% of total investment).
Electricity production and distribution had three projects valuing US$200 million; followed by wholesale and retail sales with US$94.2 million.
Out of the 583 newly-licensed projects, 539 were wholly foreign invested. The rest was in the form of joint-venture, joint-stock, and cooperative contract investment.
The FIA also announced that 41 provinces and cities absorbed the RoK’s investment of which the northern province of Bac Ninh lured 53.6% of investment or US$3.33 billion; followed by Dong Nai province with US$401.9 million and Hai Phong city with US$305.7 million.
Largest projects included Samsung Display Viet Nam with an additional capital of US$3 billion in Bac Ninh province; Heesung Electronics with US$154 million in Hai Phong city, and the US$120 million wind power plant in Tra Vinh province.
(Source:VGP)
