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HANOI: Vietnam received US$4.1bil in foreign direct investment (FDI) in the first three months of 2021, up 6.5% from a year earlier, government data showed.

FDI has been a key driver of Vietnam’s economic growth. Companies with investment from foreign firms account for about 70% of the country’s exports.

FDI pledges – which indicate the size of future FDI disbursements – rose 18.5% from a year earlier to US$10.13bil (RM42mil) in the January-March period, the government said in a statement.

Of the pledges, 49.6% would go to manufacturing and processing, while 38.9% are to be invested in electricity distribution, it added.

Singapore was the top source of FDI pledges in the period, followed by Japan and South Korea. — Reuters