BizLIVE - Real FDI inflow to Vietnam is estimated to have reached a record high of $15.8 billion.
Vietnam’s 2016 Actual FDI Hits All-time High of $15.8 Billion
LG alone has poured $2.05 million into Hai Phong this year. Photo: WSJ
Actual foreign direct investment (FDI) in Vietnam is estimated to touch a new record high of $15.8 billion in 2016, rising 9% from a year ago, government data shows.
Overseas investors have won approval to invest in 2,556 greenfield projects worth $15.18 billion, down 2.5%, while adding $5.76 billion to existing projects as of December 26
In addition, they have spent $3.42 billion on acquiring dominating stakes in companies in Vietnam, bringing fresh FDI pledges and additional funds to finance existing projects this year to a combined $24.4 billion, up 7.1% from 2015.
Manufacturing and processing remains the most appealing sector when attracting $15.54 billion, accounting for 63.8% of the slump sum.
Hai Phong takes the lead among the most invested localities in Vietnam, with $2.46 billion, accounting for 16.2% of total fresh FDI commitments.
South Korean investors pledged the most funds in 2016, totaling $5.52 billion. LG Display poured $1.5 billion into OLED screens plant and LG Innotek's $550 million in a camera plant.