Processing and manufacturing attract 90 percent of total FDI

Vietnam has attracted $ 8,51 billion of foreign direct investment (FDI) since the beginning of the year, up by 8.9 percent year on year, according to a report released on May 24th by the Foreign Investment Department under the Ministry of Investment and Planning.

 As many as 398 new foreign investment projects have been licensed and 160 ongoing foreign investment projects have been approved to raise their investment capital.

Noticeably, processing and manufacturing industries have lured $ 7.6 billion, making up 89.2 percent of the total registered capital of the FDI projects.

Meanwhile, Thai Nguyen province, attracting more than $ 2 billion of FDI, has topped the list of localities across the country in terms of luring FDI. It was followed by Binh Dinh, Binh Duong, Dong Nai and Vinh Phuc.

Major FDI projects that have been licensed or approved to add capital since the beginning of the year included Nghi Son oil refinery in Thanh Hoa, Samsung Electronics Vietnam project in Thai Nguyen, Bus Industrial Center project in Binh Duong and Prime Group project in Vinh Phuc.

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