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Viet Nam attracts nearly $17 billion in FDI in eight months

The total foreign direct investment (FDI) of Viet Nam reached nearly US$16.8 billion as of August 20, down 12.3 percent over the same period last year, reports the Foreign Investment Agency, Ministry of Planning and Investment.

The trend of falling newly registered capital continued for eight months when the total registered capital reached $6.35 billion, down 43.9 percent year-on-year.

Meanwhile, additional capital injected into existing projects rose by 50.7 percent to $7.5 billion; capital contributions and share purchases were up 3.6 percent to $2.9 billion.

Many experts believed that although Viet Nam was still considered an attractive investment destination, in a decline in global FDI inflows because of recent world developments such as Russia-Ukraine tensions, supply chain disruption, high inflation, the new FDI inflows into Southeast Asia countries would have certain affects.

Photo: Unsplash

Investors have become more and more cautious with new investment decisions.

From January-August, $12.8 billion of foreign-invested projects was disbursed, up 10.5 percent year-on-year, signalling foreign investors’ confidence in Viet Nam’s investment prospects.

Out of 21 economic sectors, foreign investors have invested in 18 industries. The manufacturing and processing industry continued to lead with a total investment of over $10.7 billion, accounting for 63.9 per cent of the total registered investment capital.

The real estate business ranked second with total investment capital of over $3.3 billion, accounting for 19.9 percent ​​of total registered investment capital.

In terms of the number of new projects, wholesale and retail, the manufacturing and processing industry and professional science and technology activities are the industries that attract the most projects, accounting for 30.3 per cent, 25.3 per cent and 16.1 percent of total projects, respectively.

Ninety-four countries and territories have invested in Viet Nam in the first eight months of this year.

Singapore leads to a total investment capital of over $4.53 billion, accounting for 27 percent of total investment capital in Viet Nam.

It was followed by the Republic of Korea and Japan, with nearly $3.5 billion and $1.49 billion, respectively.

HCM City attracted the largest capital, with more than $2.7 billion, making up 16.1 percent of the total, followed by Binh Duong with nearly $2.64 billion, and Bắc Ninh with almost $1.75 billion.

As of August 20, the country had over 35,500 valid projects totalling over $430 billion. Meanwhile, disbursement is estimated at $264.4 billion, equal to 61.5 percent of the total valid registered capital.

In the first eight months of this year, the foreign-invested sector reported an export value of $184.66 billion (including crude oil), up 17 percent year-on-year and accounting for 73.9 percent of the total.

Source: Vietnam News


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