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Sunday, July 14, 2024

New foreign investment approvals surge in H1

The Saigon Times

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HCMC – Fresh foreign direct investment (FDI) approvals in Vietnam have amounted to US$15.2 billion in the first half of 2024, up 13.1% year-on-year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

During this period, around 1,530 new projects have got investment registration certificates, with total registered capital of nearly US$9.54 billion. This represents an 18.9% rise in the number of projects and a 46.9% upsurge in capital compared to the same period last year.

Operational foreign-invested projects have revised up their investment capital pledges by over US$3.95 billion so far this year,  a 35% year-on-year spike.

In June alone, the revised investment capital pledges have totaled nearly US$1.9 billion, accounting for 47.3% of the total in the first six months of the year.

In addition, foreign investors have conducted 1,420 transactions to contribute funds to and acquire stakes at local firms, with total capital of around US$1.7 billion. This marks a 10.9% decrease in the number of transactions and a 57.7% drop in capital against the year-ago period.

In the year to June, 84 countries and territories have invested in Vietnam, with Singapore being the largest investor.

FDI has been directed to 48 provinces and cities. Bac Ninh Province leads with total registered investment capital of nearly US$2.58 billion, accounting for nearly 17% of the nation’s fresh investment capital.

The manufacturing and processing industry has attracted nearly US$10.69 billion of FDI, making up 70.4% of the total. The real estate business sector follows with over US$2.47 billion.

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