Illustrative image (Source: VNA)

The ministry reported that as of June 20, 9.55 billion USD had been injected into 804 newly-licenced projects, up 13.2 percent year on year.

Meanwhile, 4.12 billion USD had been added into 460 underway projects, a year on year rise of 10.6 percent. Foreign investors also poured 1.61 billion USD in share purchase deals in Vietnam, according to the ministry.

Meanwhile, the disbursement of FDI in the period rose 6.8 percent year on year to 9.24 billion USD.

Among the 18 sectors attracting FDI, manufacturing-processing lured the highest amount at 6.98 billion USD, accounting for 45.7 percent of the total investment, followed by power production and distribution with 5.34 billion USD, making up nearly 35 percent of the total investment.

Singapore leads the 80 countries and territories investing in Vietnam with investment of 5.64 billion USD, followed by Japan with 2.44 billion USD, and the Republic of Korea with 2.05 billion USD.

As of June 20, the country had hosted 33,787 FDI projects worth 397.89 billion USD totally, of which 241.1 billion USD, or 60 percent, had been disbursed.

The export revenue of the foreign-invested sector has continued to rise at 32.2 percent to 116 billion USD (including crude oil), accounting for 74.1 percent of the country’s total export revenue. The sector’s revenue excluding crude oil reached 115.3 billion USD, up 32.6 percent year on year.

The sector imported 102.6 billion USD worth of goods in the period, up 38.7 percent year on year. As a result, in the first half of this year, it enjoyed a trade surplus of 13.4 billion USD including revenue from crude oil.

The MPI also reported a trade deficit of 14.9 billion USD by domestic businesses./.

Source: VNA

FDI supports Vietnam climb the global value chain

Vietnam has successfully transformed into a manufacturing-oriented economy,supported by stronger global value chain (GVC) participation thanks to a rise in foreign direct investment (FDI), especially in the manufacturing industry.