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FDI poured into Vietnam in the first month of 2024 

 Wednesday, February 14,2024

AsemconnectVietnam - According to the data from the Foreign Investment Agency (Ministry of Planning and Investment), as of January 20, 2024, the total newly registered capital, adjusted registered capital and value of capital contributions and share purchases of Foreign investors (FDI) reached 2.36 billion USD, up by 40.2% over the same period last year.

In the first month of 2024, there were 190 new projects that have been granted Investment Registration Certificates, an increase of 24.2% over the same period last year with the total registered capital of more than 2 billion USD, up by 66.9% over the same period last year. The increase in the number of projects, especially large-scale projects (more than 600 million USD), was one of the main factors driving the sharp increase in foreign investment capital.
Notably, disbursed FDI capital in January of 2024 was also quite positive, reaching 1.48 billion USD, an increase of 9.6% over the same period of 2023.
In terms of investment partners, there were 39 countries and territories investing in Vietnam in January of 2024. Of which, Singapore led the list with a total investment capital of more than 1.4 billion USD, accounting for 59.5% of total investment capital, an increase of 72.8% over the same period of 2023. Japan ranked second with nearly 297 million USD, accounting for 12.6% of total investment capital, more than 7 times higher than the same period last year. The next were Samoa, China, Hong Kong (China),etc.
However, in terms of number of projects, China was the leading partner in the number of new investment projects (accounting for nearly 19%); South Korea led in the number of capital adjustments (accounting for 26.7%) and capital contributions and share purchases (accounting for 25.3%).
In terms of investment, foreign investors have invested in 15 industries out of 21 national economic sectors. In particular, the real estate business industry led the list with a total investment capital of more than 1.27 billion USD, accounting for 53.9% of total registered investment capital and 2 times higher than the same period last year. The processing and manufacturing industry ranked second with a total investment capital of nearly 926 million USD, accounting for 39.2% of total registered investment capital. The next were the professional activities, science and technology; wholesale and retail with total registered capital of 65.2 million USD and nearly 54.5 million USD, respectively.
Foreign investors invested in 35 provinces and cities across the country in January of 2024. Accordingly, Hanoi led the list with the total registered investment capital of more than 867 million USD, accounting for 36.7% of total registered investment capital and 39.7 times higher than the same period of 2023. Ba Ria - Vung Tau ranked second with a total registered investment capital of nearly 282 million USD, accounting for 11.9% of the total investment capital of the country. The next were Bac Giang, Bac Ninh, and Dong Nai.
According to the Foreign Investment Department, Hanoi's investment capital increased sharply due to a large new investment project with a total investment capital of more than 662 million USD with the goal of investing in a new urban area project in Hanoi. In terms of number of projects, Ho Chi Minh City led the country in both the number of new projects (accounting for 42.1%) and capital contribution and share purchase (accounting for 78.2%). Bac Ninh led in the number of capital adjustment projects (accounting for 16%).
Indicating Vietnam's orientation to attract FDI inflows in the coming time, according to Minister of Planning and Investment Nguyen Chi Dung, in 2024, Vietnam will proactively attract foreign investment selectively, aiming at quality, efficiency, technology and environmental protection and will prioritize projects with high added value, high technology content, linkages with domestic businesses, and spillover effects , connecting global production and supply chains. Investment encouraged fields include: electricity, electronics, semiconductors; renewable energy, highly efficient agriculture; digital economy, digital transformation; innovation, research and development; financial center.
“In the coming time, the Ministry of Planning and Investment will continue to advise and develop breakthrough plans and solutions to attract FDI capital effectively and sustainably, becoming an important capital mobilization channel of the economy, promoting recovery and development in the new situation; promoting external resources, creative spirit, combining strength and intelligence to proactively adapt, promptly seize opportunities, improve the effectiveness of foreign investment cooperation, contributing to making Vietnam a destination Potential, safe and attractive investment for foreign investors", Minister Nguyen Chi Dung added.
CK
Source: VITIC/ haiquanonline.com.vn

 

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