FDI in Vietnam real estate has dropped by half this year
FDI in Vietnam real estate has dropped by half this year
South Korea still number one investor
Foreign direct investment (FDI) in Vietnamese real estate has not been as voluminous as last year, according to Vietnamnet Bridge.
The total amount of newly registered and expanded capital inflows to the country’s property sector significantly decreased in the first ten months of the year, compared with the same period in 2015, according to the Ministry of Planning and Investment.
Although the government licenced 2,061 newly registered FDI projects, as well as 967 expanded FDI projects, worth USD12.26 billion and USD5.35 billion, respectively, these figures only represent 98.7 and 77.9 percent of the country’s showing last year.
More: Vietnam’s real estate dragon ascends
Across all sectors, both newly registered and expanded FDI in the country amounted to USD16.43 billion between January and October, representing only 91.3 percent of the performance last year.
The manufacturing and processing sector still eclipsed real estate in sheer value of projects. The sector accounted for 72.9 percent of the total FDI inflow to the country this year so far, with 842 newly registered and 691 expanded projects totalling USD12.84 billion. With 46 projects, the property sector managed to show up with USD982.59 million.
Of the 65 countries injecting the Vietnam economy with much-needed investments, South Korea and Japan were the most prolific, pouring in a capital volume of USD5.62 billion and USD1.92 billion, respectively.
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Source: Property Report