VIETNAM REPORTS FDI JUMP OF 11.6 PER CENT

More than $24.78 billion in foreign direct investment (FDI) flowed into Vietnam in the first nine months of 2024, climbing 11.6 per cent on-year, according to the Foreign Investment Agency.

A total of 2,492 new projects were granted investment registration certificates in that period, with registered capital of over $13.55 billion, down 4.3 per cent in number but up 11.3 per cent in terms of capital.

The adjusted capital for 1,027 ongoing projects reached $7.64 billion, up 7.3 per cent on-year in number and 48.1 per cent in capital. There were 2,471 capital contributions and share purchases valued at $3.59 billion, falling 6.5 per cent and 26.2 per cent, respectively.

Foreign groups invested in 18 out of the 21 economic sectors in the first nine months of the year. Among them, the manufacturing and processing industry took the lead with $15.64 billion, accounting for 63.1 per cent.

Real estate followed with $4.38 billion, capturing 17.7 per cent of the total and 2.2 times higher than a year earlier. It was followed by power production and distribution, and wholesale and retail, with almost $1.12 billion and $920 million, respectively.

Singapore was the largest foreign investor among the 98 countries and territories investing in Vietnam during the period, with nearly $7.35 billion, or 29.7 per cent of total FDI, and up 69 per cent on-year. China ranked second with nearly $3.2 billion, accounting for 13 per cent, followed by South Korea, Hong Kong, and Japan.

Regarding quantity, China ranked first in the number of new projects with 29.3 per cent. South Korea took the lead in terms of capital adjustments as well as capital contributions and share purchases, accounting for 23.9 per cent and 25.6 per cent, respectively.

In the nine-month period, Bac Ninh was the largest FDI recipient with $4.5 billion, making up nearly 18.2 per cent of the total and almost 3.5 times higher than last year.

Ho Chi Minh City was second with over $1.91 billion, making up 7.7 per cent of the total but down 15.1 per cent on-year. Quang Ninh came closely behind with $1.81 billion, capturing 7.3 per cent.

As of end-September, disbursed FDI had risen by 8.9 per cent on-year to about $17.3 billion.

Source: VIR