Vietnam Jan-Jul FDI inflows drop 4.08% y/y to $10.12 bln: govt

HANOI -- Vietnam received $10.12 billion in foreign direct investment (FDI) in the first seven months of the year, down 4.08% from a year earlier, the Ministry of Planning and Investment said on Monday.

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.

FDI pledges — which indicate the size of future FDI disbursements — dropped 6.9% from a year earlier to $18.82 billion, the ministry said in a statement.

Of the pledges, 47.6% are due to be invested in manufacturing and processing, while 21% target gas, water and electricity distribution, it said.