While foreign investment inflows in the 11 months increased slightly, the number of enterprise delegations visiting increased by 30 per cent on-year.
Between January and November, total newly-registered and added capital, as well as share purchases and capital contributions hit $31.8 billion, up 3.1 per cent against the same period in 2018, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
The total foreign direct investment (FDI) disbursement in the eleven months of 2019 witnessed an on-year increase of 7.2 per cent, reaching $17.69 billion.
As many as 3,478 projects were granted investment certificates, up 28.2 per cent on-year. The total newly-registered capital was estimated at $14.68 billion, equal to 93 per cent of the same period last year.
Besides, 1,256 existing projects were allowed to raise capital by $5.87 billion, up 20 per cent in the number of projects and down 20.7 per cent in capital volume, compared to the same period last year. Almost all capital expansion projects were of a small scale and there was no outstanding capital expansion project of a large scale during the period.
A total of 8,561 share purchases and capital contributions were made by foreign investors with the value of $11.24 billion, up 47.1 per cent and making up 35.4 per cent of the total registered capital. The processing and manufacturing industry took the lead among the 19 sectors attracting FDI with $21.56 billion, followed by real estate ($3.31 billion) and wholesale and retail.
Among the 117 nations and territories investing in Vietnam, Hong Kong (China) ranked first with $6.69 billion. South Korea and Singapore shared the second position with $5.73 billion.
Hanoi maintained its first position in luring FDI with the registered capital sum of $6.82 billion. The runners-up are Ho Chi Minh City, Binh Duong, and Dong Nai.
Mobile phones, electronic products - largest foreign currency earners
Mobile phones and components, computers, electronic products and spare parts are the two largest foreign currency earners of the country, according to the General Department of Vietnam Customs.
With over 77 billion USD from exports as of November 15, the two groups of products accounted for more than 33.5 percent of the country’s total export turnover.
Specifically, mobile phones and spare parts brought home over 46.3 billion USD, up more than 5.6 percent.
Meanwhile, computers, electronic products and spare parts raked in 30.7 billion USD, up 18.6 percent year-on-year.
Vietnam’s export turnover in the last 10 months increased 7.4 percent year-on-year to over 217 billion USD, according to the Ministry of Industry and Trade.
In the period, Vietnam imported goods worth 210 billion USD, up 7.4 percent against the same period last year.
The country completed 82.5 percent of the goal of export turnover set for the year.
Notably, Vietnam enjoyed a trade surplus of 7 billion USD, higher than the 6.83 billion USD of 2018. VIR/VNA
Hanoi continued to top the list of foreign direct investment destinations in Vietnam in the first 10 months of this year, raking in about 6.85 billion USD, most of which came in form of capital contributions and share purchase.
A slowdown in export growth of the foreign-invested sector could have a negative impact on Vietnam’s economy in 2020, according to SSI Securities Corporation, Vietnam’s largest brokerage house.