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Tuesday, June 25, 2024

Expecting new FDI influx

By Hung Le

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Experts expect a continued flow of FDI into the country, particularly in the semiconductor industry, and high-tech and value-added products. A roller-coaster ride After serving as a key economic driver for several years, foreign direct investments (FDI) faced a challenging period in 2022, experiencing an 11% year-on-year decline. This cautious investor sentiment continued into the first half of 2023, impacting global investment trends and Vietnam’s economy. Despite the Government’s supportive policies for businesses during this tough period, total foreign capital pledges in Vietnam amounted to only US$13.43 billion in the first half of the year, a 4.3% decrease compared to the same period in 2022. However, a turning point emerged in the third quarter when LG Innotek’s investment project in Haiphong City, valued at over US$1 billion, signified a shift in the FDI trajectory. Fresh FDI pledges in January-July increased by 4.5% year-on-year to US$16.24 billion. Building on this momentum, the third quarter saw a continued surge in FDI. By the end of September, registered foreign capital reached US$20.21 billion, a 7.7% increase compared to the same period in the previous year. This remarkable US$6.78 billion surge occurred in just three months. FDI disbursement also grew by 2.2% year-on-year to […]
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