The amount of foreign direct investment (FDI) realized in Vietnam in the first 7 months of the year was estimated at 11.57 billion USD, up more than 10% over the same period last year.
The above results show that foreign investors continue to put their faith in Vietnam’s economy and investment environment. Many FDI enterprises decided to invest in expanding existing projects.
Foreign direct investment flows the most into the manufacturing and processing industry with more than 252 billion USD. Many large industrial groups in the world continuously expand their investment in Vietnam after a period of effective operation. This explains the nearly 60% increase in additional registered FDI in the first 7 months of this year.
Mr. Robert Wu – Chairman and CEO of Sharp Corporation (Japan) said: “We will continue to invest in expanding both business and production facilities here. Vietnam’s economy is expected to accelerate in recovery and develop further after the pandemic. The government is also giving many incentives to FDI enterprises, which is the motivation for us to continue contributing to the development of Vietnam”.
“Vietnam will continue to attract strong FDI inflows, even being one of the leading countries in the region in this regard. Most of the FDI will go to manufacturing, a sector driven by growth in exports and the rise of new jobs,” believes Ms. Sagarika Chandra, Country Credit Director of Fitch Ratings in the Asia-Pacific region.
According to the Foreign Investment Agency, this year, 78 countries and territories have newly licensed projects and Denmark is the largest investor with $ 1.32 billion. Notably, LEGO’s decision to set up the first carbon neutral factory globally in Vietnam with an investment of 1 billion USD.
“We expect this factory will come into operation in 2024 and will continue to operate in Vietnam for another 50-100 years,” said Carsten Rasmussen – Operations Director, LEGO.
Many FDI enterprises have decided to build R&D centers in Vietnam, demonstrating their determination to bring Vietnam beyond the role of a production point to become a priority strategic base of the group.
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Source: Vietnam Insider