Foreign investment pledges to Vietnam drop 42% in May
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FOREIGN investment pledges to Vietnam dropped 42 per cent to US$1.8 billion in May from a month earlier, official data released on Monday (May 27) showed, indicating possibly lower future inflows for the investment-reliant South-east Asian industrial hub.
Investment inflows, which result from past decisions, increased month-on-month in May but new commitments were at their lowest level this year except for February, according to data from the planning and investment ministry as of May 20.
So far this year, foreign investors have pledged US$11.07 billion to Vietnam, 2 per cent more than in the first five months of 2023.
Vietnam received foreign investment inflows of US$8.25 billion from Jan 1 to May 20, up 7.8 per cent from the corresponding period a year earlier. REUTERS
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