The investment has flowed into 17 sectors led by manufacturing with 49.6 percent of the FDI pledges, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

A foreign automobile factory in northern Hai Duong Province. Photo by Reuters/Kham.

Singapore was the leading investor with nearly $4.6 billion, followed by Japan with $2.1 billion and South Korea with $1.2 billion.

But the number of new projects dropped by 69.1 percent to 234 as Covid-19 continues to prevent air travel and dampen investor sentiment.

The major projects include the $3-billion LNG-fired power plants Long An 1 and 2 in the southern province of Long An by a joint venture between South Korea’s GS Energy and fund management company VinaCapital, the $1.3-billion O Mon 2 Thermal Power Plant in the southern city of Can Tho by a joint venture between Vietnam Trading Engineering Construction JSC and Japan’s Marubeni Corporation and a $750-million investment in LG Display’s existing plant in Hai Phong.

Vietnam received $4.1 billion in foreign direct investment (FDI) in the first three months of 2021, up 6.5 percent from a year earlier.

Last year, FDI pledges had fallen by 25 percent to $28.5 billion.

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Source: VnExpress