January FDI surges 179 percent

Vietnam raked in 5.3 billion USD in foreign direct investment (FDI) in the first 20 days of 2020, a year-on-year surge of 179.5 percent, according to the Ministry of Investment and Planning.

The figure includes 4.5 billion USD funneled into 258 new FDI projects, up 454.1 percent and 14.2 percent, respectively, while the remainder came in the forms of additional FDI, capital contributions and share purchases by foreign investors.

Singapore was Vietnam’s biggest foreign investor in the month with over 4.05 billion USD, representing 90.9 percent of the total FDI.

Last year, the Southeast Asian country ranked third with 4.5 billion USD, following the Republic of Korea in the first place (7.92 billion USD) and Hong Kong (China) in the second (7.87 billion USD).

Vietnam welcomed about 38.02 billion USD in FDI in 2020, a 10-year high and a 7.2 percent increase on a yearly basis./.

VNA