During the period, the nation attracted $13.3 billion in new FDI, down 40 per cent against the same period last year, showing the annual target of $22-25 billion is almost certainly out of reach.
To reach the goal, the country needs to attract about $10 billion in December but local authorities said they had experienced difficulties in trying to attract large foreign-invested projects this year, particularly in the real estate sector, due to the current economic situation.
A total of 74 new foreign-invested projects were licensed in November, worth a combined $512 million. However, there was no change in additional investment to existing projects this year compared to the previous month which saw $420 million invested in 57 ongoing projects, the FIA noted.
The Netherlands remained the leading source of foreign investment in Viet Nam with $2.32 billion, followed by South Korea with $2.28 billion and the US with $1.92 billion.
Over the 11 month period, the processing and manufacturing sector attracted the largest share of FDI, accounting for $4.37 billion. Production, air-conditioning, electricity and water distribution contributed $2.94 billion, while the real estate sector ranked third, hitting $2.85 billion.
The southern province of Ba Ria-Vung Tau was the top destination for foreign investment, attracting $2.47 billion. It was followed by the northern province of Quang Ninh with US$2.2 billion and HCM City with over $1.83 billion.
The foreign-invested sector posted an 11 month export turnover of $34.8 billion, a year on year rise of 27 per cent.Source: vnagency.com.vn
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