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Foreign investment flows into Việt Nam go up 14.8 per cent in 11 months

Wednesday, 29/11/2023 | 10:12:47 [GMT +7] A  A

Foreign investors have invested in 56 provinces and cities during the 11 months of this year.

A mobile phone assembly line at Samsung Việt Nam. — Photo vneconomy.vn

Nearly US$28.85 billion in foreign investment (FDI) was registered as of November 20, rising 14.8 per cent year on year, reported the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

According to the FIA, foreign investors have invested in 56 provinces and cities during the 11 months of this year.

Of the total, $20.25 billion was disbursed in the 11 months, the highest since 2018.

The FIA attributed the increase in the FDI disbursement to the support from the Government and the Prime Minister, as well as the close coordination between ministries, agencies, and localities in removing obstacles to the operation of businesses.

The northern province of Quảng Ninh remains the biggest destination for FDI with nearly $3.11 billion, up 42.3 per cent from the period last year.

It is followed by HCM City with over $3.08 billion, Hải Phòng City $2.8 billion, Bắc Giang Province $2.7 billion, and Hà Nội $2.6 billion.

HCM City, accounting for 10.7 per cent of the total foreign investment, takes the lead in number of new projects (38 per cent), those with additional capital (25.3 per cent), and capital contributions to or purchases of shares at domestic companies (66.6 per cent), statistics show.

As of November 20, there were 38,844 valid FDI projects worth almost $462.4 billion in total across Việt Nam.

Nearly $294.2 billion of the projects’ registered capital was disbursed, equivalent to 63.6 per cent, according to FIA.

In terms of investment partners, 110 countries and territories have invested in Việt Nam in 11 months this year.

Of which, Singapore leads with a total investment capital of nearly $5.15 billion, accounting for more than 17.8 per cent of total investment capital, down 10.9 per cent from the same period last year.

Hong Kong (China) ranks second with more than $4.33 billion, accounting for 15 per cent of total investment capital, more than 2.2 times higher year-on-year.

South Korea ranked third with a total registered investment capital of more than $4.17 billion, accounting for nearly 14.5 per cent of total investment capital, a slight increase of 1.2 per cent over the same period last year.

China ranked fourth with $3.96 billion, and in fifth place was Japan with $3.1 billion.

Japan's total FDI capital into Việt Nam since the reform period has always remained in the group of leading countries.

Specifically, the total accumulated valid investment capital by the end of last year is nearly $69.2 billion, ranking third after South Korea and Singapore.

With Việt Nam and Japan having just become comprehensive strategic partners, it is possible that FDI capital from Japan will increase significantly in the near future.

In terms of investment, foreign investors have invested in 19 out of 21 industries; the processing and manufacturing industry accounts for the highest proportion with more than $280.5 billion, making up 60.7 per cent of total investment capital.

In the next position is the real estate business with more than $67.6 billion, accounting for 14.6 per cent of total investment capital; followed by electricity production and distribution with nearly $38.6 billion, accounting for 8.3 per cent.

Source: Vietnam News