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Vietnam Jan-Oct FDI inflows rise 7.4 pct y/y to $16.21 bln: gov't

Friday, October 25, 2019, 14:58 GMT+7
Vietnam Jan-Oct FDI inflows rise 7.4 pct y/y to $16.21 bln: gov't
A factory of Nidec Vietnam Corporation, a foreign-invested fan manufacturer, at the Saigon Hi-Tech Park in District 9, Ho Chi Minh City, Vietnam. Photo: Ngoc Phuong / Tuoi Tre

Vietnam received US$16.21 billion in foreign direct investments (FDI) in the first ten months of this year, up 7.4 percent 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 around 70 percent of the Southeast Asian country's exports.

FDI pledges - which indicate the size of future FDI disbursements - rose 4.3 percent in January-October from a year earlier to $29.11 billion, data from the ministry shows.

Of the pledges, 68 percent would be invested in manufacturing and processing, while 10.2 percent would go to real estate, the ministry said.

Vietnam reported record high FDI inflows of $19.1 billion last year, up 9.1 percent.

Reuters

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