31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Investment / News
FDI in Vietnam rises to 5-year high in Q1
Hai Yen 20:51, 2022/03/31
The report added that out of 65 countries and territories investing in Vietnam in the first three months of 2022, Singapore took the lead with $2.29 billion, or 25.7% of the total.

Disbursement of foreign direct investment (FDI) projects in Vietnam totaled US$4.42 billion in the first three months of this year, the highest figure for a first quarter in the past five years and representing an increase of 7.8% year-on-year, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.

 Electronics production at Rhythm Precision Vietnam in Noi Bai Industrial Park. Photo: Pham Hung

Meanwhile, FDI commitments in the January – March period fell nearly 12.1% year-on-year to $8.91 billion. 

Year to March 20, a total of 322 new projects have been approved with combined registered capital of $3.21 billion, up 37.6% in the number of projects but down 55.5% in capital year-on-year, while 228 existing projects have been injected an additional $4.06 billion, up 93.3% in the capital. 

Investors have poured money into 18 out of 21 fields and sectors, in which manufacturing and processing led the pack with investment capital of over $5 billion, accounting for 59.5% of total registered capital. Real estate came second with $2.7 billion, or 30.3%, followed by science and technology with $200.4 million, and electricity production and supply with $194.6 million.

The report added that out of 65 countries and territories investing in Vietnam in the first three months of 2022, Singapore took the lead with $2.29 billion, or 25.7% of the total, South Korea came in second with $1.61 billion, and Denmark in third with the Lego manufacturing project in Binh Duong Province with investment capital of $1.3 billion.

South Korean investors topped the list with the highest number of new projects and those being injected additional capital, making up 18.1% and 34.6%, respectively.

Among 44 cities/provinces receiving investment capital from abroad during the three months, Binh Duong claimed the top spot with nearly $2.32 billion, or 26% of the total, followed by Bac Ninh with $1.42 billion, and Thai Nguyen with $934 million.

The manufacturing project from Denmark-based LEGO was the largest during the period with an investment capital of $1.32 billion in Binh Duong province.

However, investors are still favoring major cities with adequate infrastructure systems, such as Hanoi and Ho Chi Minh City, noted the FIA, referring to Ho Chi Minh City taking the lead in terms of fresh projects with 39.4% of the total, and Hanoi (13.2%).

Besides the $1.32-billion LEGO plant project, some other big-ticket ones in January-March include an additional capital of $941 million into the construction of urban and services infrastructure at the Vietnam-Singapore Industrial Park (VSIP) in Bac Ninh; the pumping of $920 million into the Samsung Electromechanics Vietnam in Thai Nguyen by Samsung Vietnam; and over $306 million into the plant to produce electronic and network products from Hong Kong investors in Bac Ninh.

RELATED NEWS
TAG: Vietnam FDI vietnam foreign investment Vietnam Singapore Vietnam Samsung vietnam lego
Other news
13:21, 2022/21/10
Economic cooperation - a highlight of Vietnam-Oman relationship
This year marks the celebration of the 30th anniversary of diplomatic relations between Việt Nam and Oman.
19:44, 2022/44/08
JBIC prioritizes partnership with Vietnam
304 JBIC-funded projects in the fields of energy and supply chain development have been effective and have contributed to promoting green growth in Vietnam.
22:22, 2022/22/19
Vietnam and India open new direct flights
The operations of six new air routes will facilitate Vietnamese passengers' travel to places of pilgrimage in India and Indian citizens visiting Vietnam.