Of this, $1.3 billion is going into 47 new projects.

The investment is in 14 sectors, led by the manufacturing and processing industry with a total of $1.54 billion. Property was second with $179 million, followed by transportation and storage ($111.9 million) and agriculture, forestry and fishing ($60.4 million).

Workers assemble cars in a factory of Ford in the northern province of Hai Duong. Photo courtesy of Ford Vietnam.

As of January 20, $1.5 billion has been disbursed, the agency said.

The Foreign Investment Agency said the foreign investments have been made in several major projects, including a $270-million plant to manufacture laptops and tablets in northern Bac Giang Province by Taiwan’s FuKang Technology Company and $312 million in a Chinese radial tire production facility in southern Tay Ninh Province.

Foreign direct investment pledges fell by 25 percent 2020 to $28.5 billion as the Covid-19 pandemic prevented air travel and dampened investor sentiment.

Nguyen Phu Trong re-elected as Party General Secretary

Nguyen Phu Trong has been re-elected as General Secretary of the Communist Party of Vietnam (CPV) Central Committee in the 13th tenure at the first plenum of the 13th Party Central Committee.

Party chief, Prime Minister reelected for new Party Central Committee term

Party chief and President Nguyen Phu Trong and PM Nguyen Xuan Phuc were reelected to the 13th Communist Party Central Committee following voting on Saturday.

Source: VnExpress