Want to be in the loop?
subscribe to
our notification
Business News
BOTH FDI INFLOWS AND DISBURSEMENT RAISING
Over the first ten months, total foreign direct investment (FDI) inflows and disbursement reported an increase of 14.7 per cent and 2.4 per cent, respectively.
According to the Ministry of Planning and Investment's Foreign Investment Agency, during the period, the total registered FDI inflows stood at almost $25.7 billion, up 14.7 per cent on-year, while $18 billion was disbursed, a rise of 2.4 per cent.
There were 2,608 newly registered projects with a combined capital of $15.29 billion, up 66.1 per cent in the number of projects and 54 per cent in capital compared to the same period last year. The value of capital contribution and share purchase deals rose by 35.4 per cent to $5.13 billion.
In contrast with the growth, $5.33 billion (down 39 per cent on-year) was added to 1,051 existing projects (the number of projects receiving additions was up 19.4 per cent).
The manufacturing and processing sector led in terms of FDI attraction with $18.84 billion, capturing 72.1 per cent of the total registered FDI inflows and raising by almost 46 per cent on-year. It was followed by real estate with $2.14 billion, finance and banking with $1.54 billion, and wholesale and retail with $907 million.
From January to September, there were 108 countries and territories pouring capital into Vietnam, of which Singapore topped the list with $4.65 billion, providing 18 per cent of the total. It was followed by South Korea with $3.93 billion and Hong Kong with $3.54 billion.
Those investors transferred capital into 55 provinces and cities over the period. Quang Ninh led with $3.09 billion, making up 12 per cent of the total and up 41.3 per cent on-year. Haiphong came second with over $2.8 billion, 2.14-fold higher than the same period last year. They were followed by Hanoi, Ho Chi Minh City, and Bac Giang.
The export value of foreign-invested enterprises (FIEs) (including crude oil) was estimated at nearly $214 billion, down 8.2 per cent on-year, or $212.5 billion (excluding crude oil), capturing 73 per cent of the total but down more than 8 per cent on-year.
The import value of FIEs was nearly $172.34 billion, down almost 13 per cent on-year and accounting for 64.4 per cent of the total. The trade surplus of FIEs in the first ten months stood at $41.6 billion (including crude oil) or $40.17 billion (excluding crude oil), while local businesses reported a trade deficit of $18.46 billion.
Accumulated to October 20, there were 38,622 valid projects with a total registered investment of $460 billion and the disbursed capital reached $292 billion.
Source: VIR
Related News
VIETNAM INTENSIFIES E-COMMERCE TAX SCRUTINY
The department plans to offer guidance for and hold direct dialogues with e-commerce taxpayers to ensure compliance. Efforts will also include updating the e-commerce database, conducting risk analysis, and leveraging artificial intelligence (AI) to manage data and issue alerts.
FOOTWEAR EXPORTS SEEN REACHING US$27 BILLION THIS YEAR
This optimistic forecast reflects the industry’s efforts to expand and diversify its markets. Lefaso indicated that Vietnam’s footwear sector will concentrate on traditional markets like the U.S. and the European Union, alongside markets with free trade agreements to maximize opportunities.
2025 PIVOTAL FOR STOCK MARKET UPGRADE EFFORT
The Ministry of Finance (MoF) is expected to soon publish the entire content of the draft circular amending and supplementing four circulars on transactions, registration, depository, and clearing, as well as operations of securities companies and information disclosure. This move, along with feedback and explanations, aims to meet the criteria for upgrading Vietnam’s stock market.
CAPITAL FLOWS STRONGLY INTO INDUSTRIAL REAL ESTATE
Industrial real estate has had easier access to bank credit since July, when the State Bank of Vietnam (SBV) reduced the credit risk coefficient for industrial real estate from 200 per cent to 160 per cent, encouraging commercial banks to lend to more projects in the segment.
GDP GROWTH REACHES 6.42 PC IN FIRST HALF
Vietnam's economy grew by 6.42 pc in the first six months of 2024, slightly lower than the figure of 6.58 pc in the same time of 2022 within the 2020-2024 period.
FDI INFLOW INTO VIETNAM REACHES NEARLY 15.2 BILLION USD
Vietnam attracted nearly 15.2 billion USD in foreign direct investment (FDI) in the first six months of this year, a year-on-year increase of 13.1 per cent, according to the General Statistics Office.