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Vietnam Jan-Sept FDI inflows drop 3.2% y/y to $13.76 bln: govt

Friday, September 25, 2020, 18:38 GMT+7

HANOI -- Vietnam received $13.76 billion in foreign direct investment (FDI) in the first nine months of the year, down 3.2% 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 investment from foreign firms account for about 70% of the Southeast Asian country’s exports.

FDI pledges — which indicate the size of future FDI disbursements — dropped 18.9% from a year earlier to $21.2 billion, the ministry said in a statement.

Of the pledges, 46.6% were due to be invested in manufacturing and processing, while 20.6% targeted gas, water and electricity distribution, it said.

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

Reuters

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