Actual FDI in Vietnam up 7.4% to US$16.21 billion in Jan-Oct
FDI commitments in the January – October period totaled US$29.11 billion, up 4.3% year-on-year.
Disbursement of foreign direct investment (FDI) projects in Vietnam totaled US$16.21 billion between January and October, representing an increase of 7.4% year-on-year, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.
Illustrative photo.
|
Year to October 20, 3,094 new projects have been approved with total commitments of US$12.83 billion, up 25.9% in number of projects and down 14.6% in capital year-on-year, while 1,145 existing projects have been injected an additional US$5.47 billion, up 20% in projects and down 16.4% in capital.
During this period, 7,509 projects have had US$10.81 billion in capital contributed by foreign investors, up 70.5% year-on-year and accounting for 37.1% of total registered capital.
Investors have poured money into 19 fields and sectors, in which manufacturing and processing continued to attract substantial attention with investment capital of US$18.83 billion, or 68.1% of the total registered capital, followed by real estate with US$2.98 billion or 10.2% of the total, and retail and wholesale, science and technologies.
The data shows that out of 107 countries and territories investing in Vietnam in the ten-month period, Hong Kong (China) took the lead with US$6.45 billion. South Korea came second with US$5.52 billion while the third place belonged to Singapore with US$4.21 billion, or 14.5%.
Notably, investment capital from Hong Kong and mainland China to Vietnam has been on a growing trend year-on-year, mainly thanks to the impact from US – China trade war. FDI from China increased by 2-fold and from Hong Kong 3.94-fold year-on-year.
Among 60 cities and provinces having received FDI in the first ten months this year, Hanoi has attracted the largest portion of capital commitments with over US$6.61 billion, accounting for 22.7% of total investment in the period.
Ho Chi Minh City came second with US$4.96 billion or 17% of the total investment, followed by Binh Duong, Dong Nai, Bac Ninh.
Some of the big-ticket projects in the January – October period include a smart city project in Hanoi with registered capital of US$4.14 billion; US$1.2 billion polypropylene (PP) manufacturing plant in Ba Ria – Vung Tau; US$3.85 billion in capital contribution from Hong Kong-based Beerco Limited to Vietnam Beverage for a beer project in Hanoi; an injection of an additional US$410 million to LG Display Hai Phong; the US$260-million electronic manufacturing plant by Goertek (Hong Kong) located in Bac Ninh province; tire manufacturing plant worth US$280 million from a Chinese investor in Tay Ninh province and a similar project worth US$214.4 million financed by Guizhou Advance Type Investment (China) in Tien Giang province; and a solar power project worth US$216.7 million from Thailand’s investors in Phu Yen province.
14:43, 2024/11/18
Aircraft manufacturer Embraer seeks comprehensive aviation partnership with Vietnam
The Vietnamese leader urges the aircraft manufacturer to collaborate on technology transfer, airport construction and operation, research, and investment in Vietnam.
15:12, 2024/11/14
North-South high-speed railway to open up new economic opportunities
The government proposes a design speed of 350 km/h for the railway to ensure a modern, integrated, and forward-looking infrastructure appropriate to Vietnam’s geographical and economic conditions.
17:25, 2024/11/07
Prime Minister calls on China to pilot border economic cooperation zone
This economic cooperation zone is an initiative proposed by China and has been under negotiation with several countries, including Vietnam, since 2007.
21:55, 2024/10/22
Better links with FDI firms to support Hanoi businesses
Hanoi will continue to focus on quality projects, especially with partners such as Japan, the United States, and Europe to boost technology transfer.
15:24, 2024/09/24
Vietnam calls for more US investment in innovation, hi-tech
The Vietnamese leader called on relevant agencies to resolve any challenges faced by investors and enhance the investment climate to encourage greater US investment in Vietnam.
14:13, 2024/09/23
Vietnamese leader urges Boeing to build production facility in Vietnam
Boeing is committed to continuing to support the development of Vietnam's aviation ecosystem, focusing on aviation infrastructure, human resources training, airport construction, and aircraft maintenance facilities.