China became the largest foreign investor in Vietnam over the first eight months of this year, with the investment capital reaching US$1.876 billion.
Data released by the General Statistics Office of Vietnam (GSO) on August 29 indicates that between January and August 20, Vietnam had 2,406 foreign direct investment (FDI) projects granted investment permits, with a combined registered capital of US$9.127 billion, representing a year on year increase of 25.4 per cent in the number of projects and a fall of 32.3 per cent in registered capital.
As many as 908 licensed projects were seen making adjustments to their investment capital worth an added US$3.989 billion, a slump of 28.6 per cent on year.
Therefore, the total of newly registered and additionally foreign capital during the eight-month period reached US$13.117 billion, an annual drop of 31.2 per cent. FDI inflows during the reviewed period amounted to US$12 billion, a rise of 6.3 per cent on year.
The processing and manufacturing industry was the largest receiver of FDI throughout the reviewed period, with newly registered capital reaching US$6.807 billion, or 74.6 per cent of the total.
Following this industry was real estate with US$852.3 million, accounting for 9.3 per cent of the total. Other sectors attracted a combined US$1.468 billion, or 16.1 per cent.
China grew into the largest foreign investor among the 68 countries and territories making investments in Vietnam during the eight-month period, making up 20.6 per cent of the total newly registered foreign capital. It was followed by the Republic of Korea with US$1.721 billion, and Japan US$1.184 billion.