Vietnam remains “fertile land” for FDI attraction

(Video of Vietnam Plus: https://youtu.be/0qmp35XlL4Q)

Vietnam continues to prove itself as a “fertile land” in drawing foreign direct investment (FDI). Currently, numerous foreign investors are allocating funds and accelerating investments, to establish long-term operations in the Southeast Asian country.

According to the Foreign Investment Agency under the Ministry of Planning and Investment, total registered foreign investment, including new capital, adjustments, and capital contributions via share purchases, exceeded 24.7 billion USD in the first nine months of this year, up 11.6% year-on-year.

In September alone, foreign capital neared 4.26 billion USD, the highest monthly figure this year and accounting for over 17% of the nine-month total.

In January-September, FDI disbursement was estimated at 17.3 billion USD – the highest in the past five years, up nearly 9% year-on-year.

The Ministry of Planning and Investment has noted that, FDI inflows continue to concentrate in cities and provinces, that boasts advantages for attracting foreign investment, such as good infrastructure, stable human resources, efforts to streamline administrative procedures, and proactive investment promotion.

Notable locations include Bac Ninh province, Ho Chi Minh City, Quang Ninh province, Ba Ria-Vung Tau, Binh Duong, Hanoi, among others

These localities accounted for over 80% of the number of new projects, and nearly 73% of total investment capital in the country over the past nine months.

Many large projects in sectors such as semiconductors, energy, and the manufacturing of electronic components, and high-value-added products, have been newly invested in or expanded during this period./.