Vietnam attracted $25.4 billion in foreign direct investment (FDI) in the first nine months of 2017, up 34.3 percent year on year, reported the Ministry of Planning and Investment (MPI).

Of the total, 14.5 billion USD went to 1,844 new projects, while 6.75 billion USD was added to 878 underway ones, and 4.16 billion USD was worth company shared bought by foreign investors. The MPI revealed that as of September 20, 12.5 billion USD of FDI was disbursed, a rise of 13.4 percent over the same period last year.

Exports of the FDI sector (including crude oil) reached 110.8 billion USD, up 21 percent year on year, and accounting for 71.9 percent of the country’s total export revenue. Meanwhile, the sector’s exports (excluding crude oil) hit 108.5 billion USD, an increase of 20.8 percent over the same time in 2016.

So far this year, foreign investors invested in 18 areas, mostly in the processing and manufacturing sector with 12.64 billion USD, or 49.6 percent of total FDI. Production and distribution of power was the second most attractive sector, which lured 5.37 billion USD (21 percent), followed by the wholesale and retail sector with 1.58 billion USD (6.2 percent).

Ho Chi Minh City was the most attractive destination for foreign investors, luring 3.74 billion USD in the first nine months of this year, accounting for 14.6 percent of the country’s total 25.4 billion USD.

According to the Foreign Investment Agency under the Ministry of planning and Investment, the north central province of Thanh Hoa came second with 3.15 billion USD, accounting for 12.4 percent of total FDI.

Meanwhile, the northern province of Bac Ninh ranked third with 3.14 billion USD, or 12.3 percent of total figure, the agency reported.

Source： VIETNAMNET Bridge , Vietnam+