Vietnam received an estimated $5.75 billion in foreign direct investment (FDI) during the first six months of 2014, up 0.9 percent from a year ago, a government agency said.
But new investment pledges during the first half fell 6.8 percent from a year ago to $4.86 billion, the Planning and Investment Ministry-run Foreign Investment Department said in a report posted on its website late on Wednesday.
Competing with new frontier markets such as Myanmar and Cambodia, Vietnam received $11.5 billion in FDI in 2013, close to the $11.7 billion poured into Malaysia, one of the top five host countries in East and Southeast Asia, according to the United Nations Conference on Trade and Development.
FDI is an important source of foreign exchange for Vietnam to fund its trade deficit, estimated at $200 million this month.
Reuters
Workers at a Adidas plant in central Vietnam
Vietnam first-half FDI inflow seen up 1 pct y/y at $5.75 bln: gov’t Related image(s)
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