Vietnam’s Q1 FDI up 7.8% from a year ago

FDI pledges — which indicate the size of future FDI disbursements — fell 12% in the January-March period from a year earlier to $8.9 billion, according to the Ministry of Planning and Investment.

Vietnam received $4.42 billion in foreign direct investment (FDI) in the first quarter, up 7.8% from a year earlier, the Ministry of Planning and Investment said on Monday.

Related: How to set-up a foreign invested enterprise in Vietnam

FDI has been a key driver of Vietnam’s economic growth. Companies with FDI account for around 70% of the Southeast Asian country’s exports, Reuters reported.

FDI pledges — which indicate the size of future FDI disbursements — fell 12% in the January-March period from a year earlier to $8.9 billion, the ministry said in a statement.

Ministry of Planning and Investment said in a statement, of the pledges, 59.5% are to be invested in manufacturing and processing, while 30.3% would go to real estate.

“The most preferred legal entity types to set up in Vietnam are a limited liability company (LLC) and a joint-stock company (JSC), businesses may also open a representative office in Vietnam or a branch if they already had business in other countries”, Sophie Dao, Partner at GBS – a legal and business consulting firm told Vietnam Insider.

To be advised about how to start your foreign invested business in Vietnam, you may contact directly Sophie Dao at: info@gbs.com.vn, hotline: +84903189033 or visit the company website at: https://gbs.com.vn