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FDI in Vietnam on the rise in Q1
Ngoc Mai 16:01, 2024/03/28
Singapore remains the top investor with a total investment capital of over $2.5 billion, up more than 51% from the same period last year.

In the first three months of the year, foreign direct investment (FDI) poured into Vietnam reached nearly $6.2 billion, representing an increase of over 13%year-on-year.

 Electronics production at Rang Dong Company in Hanoi. Photo: Hoai Nam/The Hanoi Times

As of March 20, the total newly registered capital of 644 projects amounted to over $4.7 billion, up nearly 58% increase year-on-year, data from the Foreign Investment Agency under the Ministry of Planning & Investment revealed.

The data also indicated that March saw a higher volume of capital adjustments to existing projects and contributions to buy shares compared to the first two months of the year. There were also more new investment projects. However, the lack of large projects meant that the overall increase in investment capital in the month was around 25 percentage points lower than in February.

Disbursed capital in the first quarter also showed a positive trend, reaching over $4.6 billion, up over 7% compared to the same period last year. In total, nearly $6.2 billion of FDI was injected into Vietnam in the first quarter.

The manufacturing and processing sector continues to lead in attracting FDI, with over $3.9 billion, accounting for nearly 64% of foreign capital inflows into Vietnam. Real estate and retail follow in second and third positions.

Additionally, many large projects in sectors such as energy (solar cell production, photovoltaic cells, silicon ingots), component manufacturing, and electronics products have received new investments or expanded their capital in the first quarter.

Regarding partners, 62 countries and territories invested in Vietnam in the first three months of the year. Singapore remains the top investor with a total investment capital of over $2.5 billion, an increase of more than 51% compared to the same period. Following Singapore is Hong Kong with $1.05 billion.

According to the Foreign Investment Agency, foreign capital continues to be concentrated in regions with significant advantages (infrastructure, labor force, administrative procedure reforms), such as major cities of Hanoi, Ho Chi Minh City and Haiphong and other cities of Bac Ninh and Quang Ninh. These areas account for nearly 75% of new projects and 78% of total investment capital nationwide.

TAG: Vietnam news vietnam fdi 2024 vietnam investment environment 2024 vietnam things to invest 2024
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