Want to be in the loop?
subscribe to
our notification
Business News
FDI ATTRACTION IN FIVE MONTHS TOPS 11 BILLION USD
More than 11.07 billion USD in foreign direct investment (FDI) was funneled into Vietnam during January-May, up 2 per cent against the same time last year, according to the Ministry of Industry and Trade (MoIT)’s Foreign Investment Agency.
Of the total, 7.94 billion USD was poured into 1,227 new projects, a year-on-year increase of 50.8 per cent and 27.5 per cent, respectively. Meanwhile, 440 projects had their capital added with a total of over 2.08 billion USD, dropping 9.3 per cent and 8.7 per cent as compared to the same time last year.
Foreigners also injected more than 1.05 billion USD into 1,158 capital contribution and share purchase deals during the period, down 68.2 per cent and 9.4 per cent.
Among the 78 countries and territories having investment in Vietnam in the first five months, Singapore was the largest since it landed nearly 3.25 billion USD in the country, making up of 29.3 per cent of the total and growing 28.2 per cent year-on-year.
Foreign firms invested in 17 out of the 21 economic sectors, with the processing and manufacturing industry taking lead as it saw over 7.42 billion USD, or 67.1 per cent of the total investment and up 11.9 per cent against the same time last year. The realty sector came second with 1.98 billion USD in investment, rising 70.8 per cent year-on-year, followed by wholesale and retail sales (514.2 million USD), and transport and warehousing (342.2 million USD).
The MoIT said most of the FDI ran to localities with sound infrastructure, stable human resources, concerted efforts in administrative procedure reform, and active investment promotion work like Ba Ria – Vung Tau, Hanoi, Bac Ninh, Ho Chi Minh City, Dong Nai, Quang Ninh, Bac Giang, Hai Phong, Thai Nguyen, and Hung Yen.
The disbursement of FDI capital grew 7.8 per cent to some 8.25 billion USD during the five-month period.
As of May 20, the country was home to 40,285 valid projects with a combined capital of 481.33 billion USD, around 305.43 billion USD of which has been disbursed so far.
Source: VIR
Related News
![Card image cap](/uploads/news/Eco4.jpg)
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.
![Card image cap](/uploads/news/FDI.jpg)
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.
![Card image cap](/uploads/news/Eco3%20%281%29.jpg)
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.
![Card image cap](/uploads/news/Eco8.jpg)
SPECIAL POLICIES PROPOSED TO DEVELOP THE SEMICONDUCTOR INDUSTRY
The draft law has proposed a number of outstanding policies to promote the development of the digital technology industry, develop the brand of Việt Nam's digital technology industry and develop domestic and foreign markets, as well as investing, purchasing and selecting suppliers of digital technology products and services using State budget capital.
![Card image cap](/uploads/news/FDI3%20%281%29.jpg)
CONGLOMERATES AID FOREIGN MANUFACTURING INVESTMENT
The manufacturing and processing sector is attracting major investment from abroad, thanks to the expansion of key conglomerates, especially from South Korea. With total revenues of about $16.2 billion and profit of $400 million last year, Hyosung Group, which works in textiles and garments, industrial materials, IT, construction, and chemicals, has expressed its plan to expand operations in Vietnam.
![Card image cap](/uploads/news/CN40.jpg)
ESTABLISHING NATIONAL COMPREHENSIVE DATABASE FOR DIGITAL TRANSFORMATION
Vietnam's Ministry of Public Security is drafting the data law project to unify, synchronize and effectively use data for administration and social economic development, for digital government development and for administrative procedure reform.