Vietnam racks up nearly 1.9 billion USD in trade surplus in four months

30/04/2021 12:00 - 27 total view

Vietnam posted a trade surplus of nearly 1.9 billion USD in the first four months of the year, according to the Ministry of Planning and Investment’s Foreign Investment Agency.

The foreign-invested sector enjoyed 14.4 billion USD in trade surplus while domestic firms reported a trade deficit of 12.5 billion USD.

In the first four months to April 20, foreign investors pumped 12.25 billion USD in Vietnam, equal to 99.3 percent of the amount recorded in the same period last year.

Of the amount, nearly 8.5 billion USD was poured into 451 new projects, up 24.7 percent in value and down 54.2 percent in project numbers year-on-year.

Meanwhile, more than 2.7 billion USD was added to 263 existing projects, down 10.6 percent and 21.5 percent, respectively.

The remaining investment capital, over 1 billion USD, was used for capital contribution and share purchases in a total 1,151 transactions.

Foreign investors landed investment in 17 sectors, with processing and manufacturing absorbing the largest amount of capital (5.2 billion USD), followed by power generation and distribution (5.1 billion USD), real estate (778 million USD), and whole sale and retail sale (464 million USD).

Among 67 countries and territories having investment in Vietnam in the period, Singapore took lead with 4.8 billion USD, Japan came second with more than 2.5 billion USD, and the RoK was the third largest investor with 1.5 billion USD.

Localities that attracted the most FDI were Long An (3.3 billion USD), Can Tho (over 1.3 billion USD), and Ho Chi Minh City (1.1 billion USD).

Minister of Planning and Investment Nguyen Chi Dung said that the ministry will work to complete mechanisms with a view to improving business climate for foreign investors, and set up preferential mechanisms to attract investment into the fields of high technologies and source technologies./.
Source: Vietnam Plus