Country comes from nowhere to take second place with single $660 million investment in Dong Nai.
Turkey unexpectedly took second place on the list of countries and territories investing in Vietnam over the last four months, following South Korea, according to the latest figures from the Foreign Investment Agency (FIA).
Turkey became one the biggest investors with the Hyosung Co.’s $660 million investment in southern Dong Nai province producing and processing yarn. South Korea’s investment stood at $980 million.
Dong Nai was also in the top position among provinces with the Hyosung investment, which brought its total to $916.75 million for the first four months.FDI in manufacturing and processing increased to $2.83 billion, accounting for 76 per cent of all registered investment, putting it in top place by sector. Real estate ranked second, with total investment capital of $327 million from ten new projects, followed by wholesale, retail and repair, with $198.65 million.
It’s clear that investors have preferred the manufacturing and processing sector in recent time, while the real estate sector has lost its previous luster.