Vietnam in the first quarter of this year attracted € 9,55 billion of foreign investments in the development of its economy, which is 86% more compared to the same period of the last year. This was reported by the Foreign Investment Agency under the local Ministry of Planning and Investments of the Republic.
According to the ministry, in the period from January to March 2019, in the country, licenses were issued for 785 new investment projects with an aggregate amount of capital of € 3,4 billion. At the same time, investors received permission from the Ministry of Planning Invest to increase capital in 279 existing projects for € 1,15 billion. Another € 5 billion of foreign investment was attracted as a result of transactions for the acquisition by foreign companies and private entrepreneurs of shares in a working Vietnamese business.
Where the Investments Amounts were the Largest?
The Vietnamese industrial production attracted € 7,42 billion or 77.7% of all investments from abroad since the beginning of this year. It is followed by real estate, in which construction foreigners invested € 688 million. In the third place is the scientific and technical sphere, which has received € 339 million of investments.
Hong Kong became the largest foreign donor among the countries and territories that made financial investments in the Vietnamese economy this year, which owns over 40% of investments; it is about € 3,9 billion. It is followed by Singapore and South Korea which invested in the republic € 1,26 billion and € 1,15 billion respectively.
A number of major projects received licenses in February, including Kefico Vietnam Company Ltd, which approved an increase in fixed capital investment by € 106 million; Vina Cell Technology Company Ltd received € 88 million; a textile and garment factory project called Nam Dinh Ramatex with a total capital of € 71 million in the northern province of Namdin, which is financed by an investor from Singapore; and Jotun Paint Company Ltd in Ho Chi Minh City, in which a Norwegian investor invested € 62 million.