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Vietnam Jan-Nov FDI inflows rise 6.8% y/y to $17.62 bln: govt

Vietnam Jan-Nov FDI inflows rise 6.8% y/y to $17.62 bln: govt

Tuesday, November 26, 2019, 15:49 GMT+7
Vietnam Jan-Nov FDI inflows rise 6.8% y/y to $17.62 bln: govt
A woman works at a foreign-invested company in Vietnam. Photo: Ngoc Hien / Tuoi Tre

Vietnam received $17.62 billion in foreign direct investment (FDI) in the first eleven months of this year, up 6.8% from a year earlier, the Ministry of Planning and Investment said on Monday.

FDI has been a key driver of Vietnam's economic growth.

Companies with FDI account for around 70% of the Southeast Asian country's exports.

FDI pledges - which indicate the size of future FDI disbursements - rose 3.1% in January-November from a year earlier to $31.8 billion, data from the ministry shows.

Of the pledges, 68% would be invested in manufacturing and processing, while 10.4% would go to real estate, the ministry said.

South Korea was the top source of FDI pledges in the period, followed by Japan and Singapore.

Reuters

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