ASEAN funds flood Vietnam

The agency said the average capital for a project invested by ASEAN investors in Vietnam was 20.7 million USD, higher than the average level of 13.9 million USD from other investors.

Singapore took the lead with 1,428 projects and a total investment of 32.2 billion USD, accounting for 60 percent of the total. Malaysia ranked second with 499 projects and 12.06 billion USD total capital. Thailand came third with 392 projects and 6.8 billion USD investment.

Foreign direct investment from the ASEAN region were mostly focused on the manufacturing and processing industries with 1,009 projects and 22.2 billion USD registered capital, accounting for 40 percent of the total.

The property sector came second with 97 projects with 16.6 billion USD. It was followed by the construction sector, with 175 projects amounting to 3.24 billion USD.

ASEAN players have invested in 55 provinces and cities across the nation. HCM City has attracted the maximum number of investors, with projects worth 15.07 billion USD.

Hanoi followed with 417 projects worth 8.58 billion USD. Ba Ria-Vung Tau ranked third with 67 projects worth 6.19 billion USD.

Some of the major projects by ASEAN investors include South Hoi An Resort, with a total investment of 4 billion USD from Singapore Genting VinaCapital Investment Pte Ltd; Samsung Thai Nguyen complex's phase 2 by Samsung Electronics Vietnam-Republic of Korea; a university urban area in HCM City by Malaysia's Berjaya Leisure Corporation; and Long Son oil refinery plant in Ba Ria-Vung Tau by a Thai investor.