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Tuesday, June 25, 2024

New foreign investments in Jan-Nov rise 14.8% y-o-y

The Saigon Times

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HCMC – New foreign investments in January-November have soared by 14.8% year-on-year to nearly US$28.85 billion, according to a Ministry of Planning and Investment report.

In the year to November 20, total capital from newly registered and adjusted foreign investment projects and share acquisitions by foreign investors has grown remarkably against the same period last year.

Foreign direct investment (FDI) disbursements in Vietnam have reached a record high of US$20.25 billion so far this year, setting a new benchmark between 2018 and 2023. This surge is attributed to government support and collaboration across various sectors to overcome legal obstacles.

Authorities have presented investment registration certificates to 2,865 foreign investment projects worth US$16.41 billion, up by a steep 42.4% versus the same period last year. There have been 1,152 operational foreign investment projects adjusting up their capital by over US$6.47 billion, a 32.1% increase.

The manufacturing and processing industries have attracted over US$20.97 billion, accounting for 72.71% of the total. The real estate sector has secured the second position with over US$2.87 billion, making up almost 10% of the total, despite a 31.4% decline compared to the same period last year.

Quang Ninh Province has continued to lead in FDI attraction, with registered capital nearing US$3.11 billion, capturing almost 10.8% of the total registered capital and surging by 42.3% over the same period in 2022. HCMC comes in second with over US$3.08 billion in registered capital, representing 10.7% of the total, albeit experiencing a 12.9% decline.

Investors from 110 countries and territories have invested in Vietnam, with Singapore leading the way with nearly US$5.15 billion, followed by Hong Kong (China) with over US$4.33 billion and South Korea with more than US$4.17 billion.

As of November 20, 2023, Vietnam had had 38,844 active FDI projects with total registered capital of nearly US$462.4 billion. The cumulative realized capital of these projects has reached almost US$294.2 billion, accounting for 63.6% of the total registered capital.

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