Vietnam Jan-Oct FDI inflows rise 7.4% y/y to $16.21 bln - govt

Vietnam received $16.21 billion in foreign direct investments (FDI) in the first ten months of this year, up 7.4% from a year earlier, the Ministry of Planning and Investment said on Friday. FDI has been a key driver of Vietnam's economic growth. Companies with FDI account for around 70% of the Southeast Asian country's exports.

FDI pledges - which indicate the size of future FDI disbursements - rose 4.3% in January-October from a year earlier to $29.11 billion, data from the ministry shows. Of the pledges, 68% would be invested in manufacturing and processing, while 10.2% would go to real estate, the ministry said.

Vietnam reported record high FDI inflows of $19.1 billion last year, up 9.1%.

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