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Vietnam real estate continues to attract foreign investors
A report by Ministry of Planning and Investment revealed, during January-June period, foreign direct investment (FDI) into Vietnam property hit USD701 million across 618 projects, making it the fifth most popular sector in the country for investment.
Ho Chi Minh City at night (Saigonese Photographer/Shutterstock)
Reportedly, 39 property projects were licensed during the period tracked, with a total FDI of USD461.7 million. Meanwhile, a total of 2,279 property companies were licensed, up 68.3% compared to the same period last year. Capital from these entities soars 42.2% year-on-year.
Manufacturing and processing continued to lead all sectors and accounted for USD9.48 billion, equivalent to 49.3% of total FDI registered in Vietnam. The second-largest recipient of FDI was the electricity production and distribution sector, with USD5.25 billion , accounting for 27% of FDI). Mining came third with USD1.28 billion, making up 6.68%.
In general, nearly USD11.83 billion in FDI were poured into new projects in the first half of 2017 for a grand total of USD19.22 billion, an increase of 54.8% year-on-year.
Besides, South Korea no longer stands as Vietnam’s leading source market for FDI. FDI flows from Japan into Vietnam ploughed USD5.08 billion during the period, while South Korean businesses ranked second with USD4.95 billion. With USD3.48 billion poured in Vietnam, Singapore took the third position.
Notably, most FDI flowed into Thanh Hoa province, reaching USD3.06 billion in FDI. Two Northern provinces Bac Ninh and Nam Dinh received the next biggest FDI sums with USD2.85 billion and USD2.19 billion, respectively.
(Source: Property Report)