Vietnam Jan-Jul FDI inflows drop 4.08% y/y to $10.12 bln: govt
Monday, July 27, 2020, 17:24 GMT+7
HANOI -- Vietnam received $10.12 billion in foreign direct investment (FDI) in the first seven months of the year, down 4.08% 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 — dropped 6.9% from a year earlier to $18.82 billion, the ministry said in a statement.
Of the pledges, 47.6% are due to be invested in manufacturing and processing, while 21% target gas, water and electricity distribution, it said.
