Vietnam's 2017 FDI inflow rises 10.8%

Cans move along a production line at a factory of Saigon Beer Corporation (Sabeco) in Hanoi, Vietnam June 23, 2017. (Reuters file photo)

HANOI: Vietnam received an estimated $17.5 billion (573 million baht) in foreign direct investment (FDI) in 2017, up 10.8% from the previous year, the government's ministry of planning and investment said.

This was in line with the government's expectation in November.

FDI pledges for new projects, increased capital and stake acquisitions jumped 44.4% from a year ago to $35.88 billion, the ministry said in a report published on its website.

The manufacturing and processing sector received the most foreign funds in 2017, the report said, followed by electricity production and distribution.

Japan, South Korea and Singapore were the biggest foreign investors in Vietnam.

FDI is a key source of growth for Vietnam's export-driven economy, which received $15.8 billion in FDI inflow last year.