FDI inflows up by 6.2 pct to USD 4.1 bn in first quarter

Vietnam received $4.1 billion in foreign direct investments (FDI) in the first quarter of this year, up 6.2 per cent from a year earlier, the Ministry of Planning and Investment said on Tuesday. FDI has been a key driver of Vietnam's economic growth. Companies with FDI account for more than 70 per cent of the Southeast Asian country's exports.

FDI pledges — which indicate the size of future FDI disbursements — rose 86.2 per cent in the January-March period from a year earlier to $10.8 billion, the ministry said in a statement. Of the pledges, 77.7 per cent would be invested in manufacturing and processing, while 7.2 per cent would go to real estate, the ministry said. Hong Kong was the top source of FDI pledges in the period, followed by Singapore and South Korea, it added.