Service industry attracts most FDI

The flow of foreign direct investment (FDI) into Vietnam’s service industry has been rising despite a drop in the total volume of FDI injected into the country due to the current global economic downturn.

The Foreign Investment Department reported that the service sector attracted close to 5.96 billion USD in the first four months of this year, accounting for 93.6 percent of the nation’s total amount of FDI, which hit 6.36 billion USD.

Of that, 2.1 billion USD was invested in 96 newly licensed projects and the rest was added on to 11 already operational, according to the department.

The industry and construction sector came second with 47 newly licensed projects providing 372.6 million USD of capital and 12 existing projects that were permitted to raise their investment by 19.5 million USD.

The US topped the list of overseas investors in Vietnam in terms of capital from January-April, with a sum of over 3.8 billion USD.

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