World Economy

Vietnam FDI Up 7.6%

Vietnam FDI Up 7.6%Vietnam FDI Up 7.6%

Vietnam received an estimated $4.95 billion in actual foreign direct investment in January-May, up 7.6% from the same period in 2014, the Planning and Investment Ministry said, the country’s Thanhnien News Agency reported. However, new FDI pledges in the first five months fell 19.4% from a year ago to $2.95 billion, with most of the funds going to processing industries and property projects, the ministry’s Foreign Investment Agency said in a statement. Additional funds to existing projects fell 27.1% to $1.34 billion, it said. FDI inflows are an important source of foreign exchange for Vietnam to offset its trade deficit.