Tuesday, March 19, 2024 10:21:37 AM - Markets open
VN-INDEX 1,244.53 +0.97/+0.08%
HNX-INDEX 237.21 +0.53/+0.22%
UPCOM-INDEX 90.49 +0.17/+0.19%
Vietnam’s FDI inflows plunge 11.1 percent in seven months
Vietnam+ - 7/27/2021 4:20:04 PM
 (0 ratings. You must sign in to rate.)
 Vietnam raked in 16.7 billion USD in foreign direct investment (FDI) in the first seven months of 2021, down 11.1 percent from the same period last year, data from the Ministry of Planning and Investment (MPI) shows.
 
This is the biggest fall in FDI inflows since the COVID-19 pandemic broke out again in the country in late April, wreaking havoc on multiple industrial parks in the northern provinces of Bac Giang and Bac Ninh.
 
Earlier, FDI inflows declined 2.6 percent year-on-year in the first half of the year, after it edged up 0.8 percent in the January-May period.
 
According to the MPI’s Foreign Investment Agency, of the 7-month figure, 10.13 billion USD came from 1,006 newly-registered projects, up 7 percent year-on-year.
 
Some 4.54 billion USD was added to 561 existing projects, representing a year-on-year decrease of 3.7 percent. Capital contribution and share purchases by foreign investors dropped by 55.8 percent to 2.05 billion USD.
 
Economists believed that the COVID-19 pandemic is taking toll on Vietnam’s FDI attraction. The fourth coronavirus wave has knocked the confidence of European businesses, with the EuroCham Business Climate Index (BCI) falling almost 30 points to 45.8 in the second quarter of this year.
 
Despite the contraction, the FDI disbursement slightly rose by 3.8 percent from a year earlier to 10.5 billion USD.
 
The largest proportion of the seven-month FDI, 7.9 billion USD or 47.2 percent, landed in processing and manufacturing, followed by electricity production and distribution, with 5.49 billion USD or 32.8 percent.
 
Singapore topped foreign investors, pouring 5.92 billion USD into Vietnam, followed by Japan (2.54 billion USD), and the Republic of Korea (2.2 billion USD).
 
The Mekong Delta province of Long An was the largest recipient of FDI with 3.58 billion USD, followed by Ho Chi Minh City (1.78 billion USD) and Binh Duong (1.33 billion USD)./.
 
VNA
 
Read original article here
 
Newer News
15/03 Petrol prices decrease slightly in latest adjustment
15/03 HCM City urged to create breakthroughs in foreign investment attraction
15/03 Japan seeks to boost seafood processing collaboration with Việt Nam
15/03 Việt Nam's rice exports to Senegal remain low compared to demand
15/03 Northern power corp’s output up 12.02 per cent
15/03 Controlling shipping line surcharge increases for market stability
14/03 Đà Nẵng tapped to transform into international financial centre
14/03 Vietnamese economy making dynamic shift with robust growth: Hong Kong news site
14/03 Việt Nam's GDP reaches over $430 billion in 2023, fifth most in Southeast Asia
14/03 PM chairs meeting on monetary policies to remove obstacles, promote growth
Older News
26/07 Vietnam among world's top 20 host economies for FDI
26/07 US removes tariff threats against Việt Nam
23/07 Vietnam’s strengths in foreign investment attraction: VietnamBriefing
19/07 Vietnam named among world’s top 20 host economies for FDI for first time
08/07 Fishery exports expected to hit US$8.5 billion this year
05/07 Six-month CPI up 1.47 percent
29/06 Vietnamese iron and steel exports to the EU soar
29/06 Vietnam wood exports to rise to new record level
23/06 MoIT asks for cooperation in anti-dumping investigation on imported steel products
23/06 Việt Nam records $1.35b trade deficit in first half of June
 
Newsletter Signup
Top Stories
Man owes bank nearly VNĐ9 billion in credit card's interest after 11 years
VN-Index corrects, liquidity stays high
Stock Market Upgrade Journey: overcoming hurdles and reaching new heights
Corporate bond market quiet in February
Losses in bank stocks weigh on market sentiment
Market Update
Last updated at 10:15:00 AM
VN-INDEX 1,244.53 +0.97/+0.08%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.