China overcame South Korea and Japan to become the largest foreign investor in Vietnam in the first four months of the year in terms of newly-registered capital with $1.3 billion.
Several large projects received funding by Chinese investors in the period, including a tire manufacturing project with the total registered capital of $280 million in the southern province of Tay Ninh and another tire project by Advance Tire (Vietnam) Co., Ltd. with registered capital of $214.4 million in the southern province of Tien Giang.
According to the statistics published by the Foreign Investment Agency, while China registered the most new capital, it ranked fourth in total investment capital in Vietnam in the first four months, with $1.69 billion, following Hong Kong, South Korea, and Singapore.
The total registered capital from China in the first four months was equal to 70 per cent of its registered capital for the whole year of 2018.
In the first four months of 2019, foreign direct investment (FDI) projects disbursed an estimated $5.7 billion, up 7.5 per cent compared to the same period in 2018.
As of April 20, 2019, the total newly and additionally registered capital and capital contributed and shares purchased by foreign investors was $14.59 billion, up 81 per cent compared to the same period in 2018. Investment capital increased sharply in newly granted and capital contribution and share purchase deals.
Notably, within the first four months, the country had granted investment certificates to 1,082 new projects with the total newly registered capital of $5.34 billion, up 50.4 per cent on-year.
There were 395 instances of added capital registration with the total additionally registered capital of $2.11 billion, 94 per cent of the figure from the same period in 2018.
Regarding capital contribution and share purchase, the country saw 1.653 capital contribution and share purchase deals by foreign investors with the total value of capital contributions reaching $5.68 billion, three times as much as in the same period in 2018.
In the first four months of 2019, 19 fields received investment from foreign investors, with the processing and manufacturing sector taking the lead with $10.5 billion, accounting for 72 per cent of the total registered investment capital. Real estate business ranked second with $1.1 billion, accounting for 7.5 per cent. Wholesale, and retail ranked third with the total registered investment capital of $742.7 million, capturing 5 per cent.
80 countries and territories have investment projects in Vietnam. Hong Kong ranked first with the total investment capital of $4.7 billion, making up 32.5 per cent of total investment capital; South Korea ranked second with $1.98 billion, accounting for 13.6 per cent. Singapore ranked third with the total registered investment capital of 1.87 billion, capturing 12.8 of the total investment capital.
44 cities and provinces received investment from foreign investors. Hanoi attracted the most FDI with the total registered capital of more than $4.47 billion, capturing 30.6 per cent of the total. Ho Chi Minh City ranked second with more than $2.37 billion, accounting for 16.3 per cent. Binh Duong ranked third with over $1 billion, accounting for 7 per cent. VIR