Vietnam has attracted more than 4.29 billion USD in foreign direct investment (FDI) in the first two months of 2024, a year-on-year increase of 38.6%, according to the Ministry of Industry and Trade (MoIT)’s Foreign Trade Agency.

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During the period, 405 new projects with total registered capital of 3.6 billion USD were granted investment certificates, up 55.2% in volume and doubling the value recorded in the same period last year.

Meanwhile, 159 projects had their capital adjusted, with the total amount at 442.1 million USD, up 19.5% and down 17.4% year on year, respectively.

Capital contributions and share purchases fell 68% year on year to 255.4 million USD.

As much as 2.8 billion USD in FDI was disbursed in the two months, expanding 9.8% from the same time of 2023.

According to the MoIT, most of the capital was funnelled into cities and provinces with sound infrastructure, stable human resources, great efforts to improve administrative procedures and active engagement in investment promotion events.

Hanoi, Quang Ninh, Thai Nguyen, Ba Ria – Vung Tau, Bac Ninh, Dong Nai, Bac Giang, Ho Chi Minh City, Hai Phong, and Hung Yen topped the country in terms of FDI attraction, the Foreign Trade Agency shared, elaborating that the ten localities made up a lion’s share of 81.7% of the foreign capital in the period.

The capital city of Hanoi led all localities in FDI attraction with nearly 914.4 million USD.

Among the 48 countries and territories with investment in Vietnam during the January-February period, Singapore was the biggest investor, pouring more than 2.08 billion USD into the country, followed by Hong Kong (China), Japan, and China.

The investors injected capital into 16 out of 21 economic sectors, of which the processing and manufacturing industry took the lead with total investment of nearly 2.54 billion USD. It was followed by the realty sector (1.41 billion USD), whole and retail sale (125.2 million USD) and scientific and technological activities (nearly 76.4 million USD).

In the two-month period, the foreign-invested sector posted a trade surplus of more than 8.6 billion USD (excluding crude oil), helping compensate the domestic sector’s trade deficit of 4.63 billion USD.

As of February 2024, the country has 39,553 valid projects with total registered capital of 473.1 billion USD. Nearly 300 billion USD has been disbursed so far.

A turning point in 35 years of FDI attraction in Vietnam

During the 35-year journey of foreign direct investment (FDI) attraction, Vietnam has continuously improved institutions and incentives to attract and better manage domestic and foreign investment resources. The expansion of economic diplomacy activities by the Party and Government in recent times has created more opportunities for Vietnam to attract high-quality capital flows into new industries.

Bac Giang provincial leader extends Tet wish to FDI enterprises

BAC GIANG - On January 26, the Vice Chairman of Bac Giang provincial People's Committee (PPC) Phan The Tuan and representatives of the Department of Foreign Affairs and the Provincial Industrial Park Management Board visited and extended New Year wish to a number of foreign direct investment businesses (FDI) in the province.

Vietnam should not miss opportunities to attract high-quality FDI

Amid numerous difficulties, Vietnam still recorded impressive results in attracting foreign direct investment (FDI) in 2023, with new pledges reaching 36.6 billion USD (up 32.1%) and disbursement hitting an all-time high of 23.18 billion USD.

FDI up over 32% in 2023

Total newly-registered foreign investment capital, adjusted and contributed capital to buy shares and buy contributed capital of foreign investors totalled 36.6 billion USD as of December 20, 2023, an increase of 32.1% compared to 2022.

Vietnam attracts over 39,100 FDI projects with registered capital of nearly 469 billion USD so far

Vietnam had attracted 39,140 foreign direct investment (FDI) projects with total registered capital of over 468.91 billion USD by the end of 2023, reported the Foreign Investment Agency under the Ministry of Planning and Investment (MPI).

Source: NDO