HCMC – Chinese investments in Vietnam remain robust, with major investors increasingly focusing on high-tech sectors in the areas of electronics, manufacturing, infrastructure, renewable energy, and electric vehicles.
Minister of Planning and Investment Nguyen Chi Dung highlighted this positive shift, noting that large Chinese corporations are now investing in high-tech industries. This marks a departure from previous investments, which primarily targeted furniture, steel, leather, textile and food production.
A notable recent investment is a US$277.5 million plant by BOE Technology Group in Phu My 3 Industrial Park, Ba Ria-Vung Tau Province, scheduled to begin operations in 2026.
This facility will produce screens for computers, televisions, and circuit boards. BOE previously opened a factory in Dong Nai Province in 2019.
According to data from the Ministry of Planning and Investment, investors from 91 countries and territories set up shop in Vietnam in the first seven months of 2024.
Singapore led in total capital, with investments nearing US$6.52 billion, accounting for 36.2% of the total and reflecting a 79.1% year-on-year increase. Hong Kong followed with over US$2.19 billion, more than doubling its investment in the same period in 2023. Japan, China, and South Korea were also among the top investors.
While Singapore dominated in terms of capital, China led in the number of new investment projects, taking 29.7% of all new ventures. South Korea was at the forefront in both capital adjustments and capital contributions, with 24.5% and 26%, respectively.
Haiphong City and Binh Duong Province are key destinations for FDI in Vietnam.
Binh Duong, which hosts 4,322 active FDI projects worth over US$40.9 billion, is also attracting significant Chinese investment. Pham Trong Nhan, director of Binh Duong’s Department of Planning and Investment, noted that FDI continues to play a crucial role in enhancing the quality and scale of projects in the province, particularly in industrial zones focused on manufacturing.
