Vietnam foreign investment closes in on full-year target

TN News

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Foreign direct investment (FDI) this year has been worth US$12.63 billion, and analysts believe that the full-year target of $13-14 billion will be achieved or even exceeded.

The investment in the first eight months represents a year-on-year increase of 19.5 percent.

Last year the country unexpectedly achieved the target of $15-17 billion by attracting $16.3 billion.

The country failed to achieve the FDI target in the previous two years.

In a recent press release, Neil Macgregor, managing director of Savills Vietnam, said his company has seen "great level of interest" from foreign investors who eye the country as a medium- to long-term investment destination.

"We are now seeing opportunities to invest across all sectors throughout Vietnam," the UK-based property services provider said.    

In the first eight months manufacturing and processing attracted the largest amount of investment -- $10.82 billion.

Property followed with $588 million. 

The sector has "certain advantages" compared to those in neighboring countries, Savills said.

Both the Ho Chi Minh City and Hanoi markets are "at the bottom of the real estate cycle," signalling a recovery soon, it added.

This year Japan has remained the largest investor in Vietnam with $4.3 billion, followed by Singapore and Russia.

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