Vietnam Jan-Sept FDI inflows rise 7.3% y/y to $14.22 billion - ministry

Reuters
Updated

Sept 26 (Reuters) - Vietnam received $14.22 billion in foreign direct investments (FDI) in the first nine months of this year, up 7.3% from a year earlier, the Ministry of Planning and Investment said on Thursday.

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 3.13% in January-September from a year earlier to $26.14 billion, data from the ministry shows.

Of the pledges, 69% would be invested in manufacturing and processing, while 9.5% would go to real estate, the ministry said.

The Southeast Asian country reported a record high FDI inflows of $19.1 billion last year, up 9.1%. (Reporting by Phuong Nguyen Editing by Shri Navaratnam)