HANOI – Vietnam’s Department of Foreign Investment (DFI) has reported that, in the first five months of this year, the country saw a steep rise in foreign direct investment (FDI) capital from Hong Kong and China.
Thirty-eight countries and territories invested in Vietnam between January and May. Hong Kong contributed US$630 million in newly registered FDI, making them the second largest investor into Vietnam, and accounting for 11.5 percent of total investment into the country. Hong Kong’s FDI was a fourfold increase over its investment during the same period last year.
China ranks as the seventh largest foreign investor during the same period, with a total investment of US$300 million – a threefold increase year on year.
Made in Vietnam
According to the DFI, investment into the textiles and garment industry rose for the first time since mid-2012, with large-scale projects seeing investment from businesses located in China, Hong Kong and Taiwan.
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An example of a key foreign investment can be seen in the decision of the Economic Zone Management Board of Long An province to grant an investment certificate for Hong Kong’s Huafu Company Ltd. to invest US$136 million in a textile and dying plant. This project is expected to break ground next year. The plant will occupy 20 hectares and manufacture 300,000 tons of fiber and dye 20,000 tons of cotton annually.
