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Red River Delta lures $65 billion in foreign funds
The Song Hong (Red River) Delta region had attracted 5,411 foreign-invested projects worth US$65.5 billion till March 1 this year.
This accounted for 26 per cent of the total foreign direct investment (FDI) registered in the country.
According to the Foreign Investment Agency under the Ministry of Planning and Investment, Ha Noi topped the list with 3,116 projects worth $25.54 billion, making up for 58 per cent of the total number of projects and 39 per cent of country's total FDI inflows. Hai Phong came in second, with 465 projects capitalised at $11.35 billion.
Bac Ninh was ranked third with 584 projects valued at approximately $7.72 billion, followed by Hai Duong, with 327 projects worth $6.55 billion, and Quang Ninh, Vinh Phuc, Hung Yen, Ninh Binh, Ha Nam, Nam Dinh and Thai Binh provinces.
Among the countries and territories investing in the region, South Korea took the lead with $13.2 billion being pumped into 1,660 projects, accounting for 30 per cent of the projects and 20 per cent of their value. South Korea was followed by Japan with 1,060 projects worth $13.1 billion and Singapore with 308 projects worth $9.1 billion.
The agency reported that the processing and manufacturing industry continued to attract the largest share of FDI worth $33.5 billion, making up 51 per cent of the region's total FDI.
The property sector was ranked second with $10.7 billion or 16.3 per cent, followed by electricity production, the construction sector, and restaurant and catering services.
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