South Korea ranked top among foreign direct investors (FDI) in Vietnam in the first 10 months of this year, with a total of 3.6 billion U.S. dollars, according to the Ministry of Planning and Investment (MPI) on Monday.
Statistics from the ministry's Foreign Investment Agency (FIA) showed that South Korea had 415 new projects and 129 expanded projects in the 10-month period, with total registered capital of 3.6 billion dollars, ranking first among countries and regions investing in Vietnam in the reviewed period.
South Korean investors have invested in 11 out of 18 economic sectors in Vietnam, mainly in processing and manufacturing industries with 3.07 billion dollars, or 85.2 percent, of their registered capital during the period.
Northern Bac Ninh province attracted most of South Korea's investment in the reviewed time, with 1.2 billion dollars, followed by southern Dong Nai province and capital Hanoi.
As the end of October 2014, South Korea has had 4,020 projects in Vietnam, with total registered capital of 33.4 billion U.S. dollars, accounting for 23 percent of the total FDI projects and 13.7 percent of the total FDI registered capital, and ranking second out of 101 countries and regions investing in Vietnam.
On the average, a South Korea-invested project is worth about 8. 33 million U.S. dollars, compared with 14.18 million U.S. dollars per project by other foreign investors.
In the first 10 months, Vietnam attracted FDI worth 13.7 billion U.S. dollars, or 71.2 percent of total FDI in the same period last year. Meanwhile, FDI disbursement posted a 5.9 percent increase to 10.15 billion U.S. dollars, reported the FIA.