In the first 10 months, foreign direct investment into Vietnam reached over $25.7 billion, representing an almost 15% increase compared to the same period last year.
The Foreign Investment Agency (under the Ministry of Planning and Investment) reported that as of October 20th, there were more than 2,600 new projects granted investment registration certificates, marking a growth of over 66% compared to the same period last year. The total newly registered capital reached $15.3 billion, a 54% increase.
Additionally, there were 1,051 projects that adjusted their investment capital, with a total increase of over $5.3 billion. Furthermore, there were 2,836 equity acquisition transactions by foreign investors with a total capital of over $5.1 billion.
Foreign investors contributed capital to 18 out of 21 economic sectors. Leading the way in attracting investment was the manufacturing and processing industry, accounting for more than 73% of the total registered capital, marking a 45.8% increase compared to the same period in 2022. Real estate came in second, followed by the finance and banking sectors, as well as wholesale and retail.
“FDI has been pouring into Vietnam due to its favorable investment climate, economic stability, strategic geographical location, a young and skilled workforce, robust infrastructure development, participation in international trade agreements, competitive labor costs, a growing consumer market, opportunities for diversification, promotion of renewable energy projects, government incentives, a stable banking sector, and ongoing commitment to economic reforms, all of which collectively make Vietnam an attractive and increasingly popular destination for foreign investors.” Sophie Dao, Senior Partner at Global Business Services LLC (GBS) told reporter.
In terms of investment partners, Singapore led the way, accounting for 18% of the total capital invested in Vietnam. Following closely were South Korea, Hong Kong, Mainland China, and Japan.
The data also shows that Quang Ninh has risen to the top in attracting foreign capital due to the addition of two large projects (the Jinko Solar Hai Ha – Vietnam photoelectric cell technology complex with a total capital of $1.5 billion and the Liteon Quang Ninh factory with an investment of $690 million). Hai Phong ranked second, followed by Hanoi, Ho Chi Minh City, and Bac Giang.
According to the Foreign Investment Agency, new projects continue to focus on areas with strong infrastructure, stable human resources, and active administrative procedure reform efforts. Notable locations include Quang Ninh, Hai Phong, Hanoi, Ho Chi Minh City, Bac Giang, and Binh Duong.
In terms of actual investment disbursement, it is estimated that foreign-invested projects have disbursed approximately $18 billion, a 2.4% increase compared to the same period in 2022.
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Source: Vietnam Insider