Vietnam's FDI inflow hits new high; Malaysia emerges as top investor

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Workers go around a construction site of a foreign invested project in Ho Chi Minh City. Photo: Reuters Workers go around a construction site of a foreign invested project in Ho Chi Minh City. Photo: Reuters

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A total of US$11.8 billion was disbursed for foreign invested projects in the January-October period, up 16.3 percent year on year, the General Statistics Office of Vietnam has reported.
The country's total foreign direct investment pledges increased 40.8 percent to more than $19.29 billion as of October 20, it said. Over 64 percent of the pledges were registered for 1,657 brand new projects.
Manufacturing sector continued to be the most attractive sector, receiving 64.7 percent of the total registered capital. It was followed by the energy sector, with 13.6 percent.
With over $2.41 billion registered for its projects in Vietnam, Malaysia was the country's biggest investor so far, followed by South Korea and the UK, according to the statistics office.
The southern province of Tra Vinh accounted for 20.3 percent of the total pledges, becoming Vietnam's top FDI destination. The province has secured a $2.4 billion power plant project developed by Malaysia's Teknik Janakuasa. 
Ho Chi Minh City and the nearby province of Dong Nai were ranked second and third.

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