Foreign direct investment (FDI) inflows to Viet Nam in the first nine months of 2020 fell by 18.9% over the same period last year to US$21.2 billion, according to the Ministry of Planning and Investment. 

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FDI disbursement also dropped by 3.2% year-on-year to an about US$13.76 billion, data as of September 20 has shown. 

During the reviewed period, Viet Nam licensed 1,947 foreign-invested projects worth a total of US$10.36 billion, down 29.4% and 5.6% in the number of projects and value, respectively.

A total of 798 existing projects registered to add more than US$5.11 billion, down 23% year-on-year regarding the number of projects but up 6.8% in terms of the capital.

The capital surge was mainly attributed to an additional pledge of nearly US$1.39 billion to the southern petrochemical complex project in Ba Ria-Vung Tau province.  

Foreign investors’ capital contributions and share purchases between January-September saw a steep decline of 20.5% to US$5.73 billion, equivalent to 55.1% of the figure recorded in the same period of 2019.

Manufacturing was the most attractive sector to foreign investors, receiving nearly US$9.9 billion, accounting for 46.6% of total registered capital.

Power generation and distribution came second with more than US$4.3 billion, representing 20.6%, followed by real estate with US$3.2 billion and retails & wholesales with US$1.3 billion.

Among the 111 countries and territories investing in Viet Nam, Singapore came out on top with US$6.77 billion, making up 32% of the total, while the Republic of Korea and China came second and third with US$3.17 billion (15%) and US$1.87 billion (8.8%), respectively.

In terms of new projects, the Republic of Korea ranked first with 499 projects, followed by China (271) and Japan (209). Singapore came fourth with 173 new projects.

The southern province of Bac Lieu remained the largest FDI recipient thanks to a US$4 billion natural gas project invested by a Singaporean investor.

The two economic hubs of Ho Chi Minh and Ha Noi received the second and third largest shares of FDI with US$325 billion and US$292 billion, respectively. /.