2022 FDI disbursement highest in five years

Friday, 30/12/2022 16:53
Disbursement of foreign direct investment (FDI) in Vietnam in 2022 is estimated at nearly 22.4 billion USD, up 13.5% year-on-year, making it the highest amount in the past five years, Vietnam News Agency quoted figures of the General Statistics Office (GSO) .
Illustrative image (Photo: VNA) 

The GSO also said that Vietnam attracted a total of 27.72 billion USD in FDI as of December 20, down 11% year-on-year.

Among 108 nations and territories pouring capital into Vietnam this year, Singapore ranked first with 6.46 billion USD or 23.3% of the total. It was followed by the Republic of Korea (4.88 billion USD), and Japan (4.78 billion USD).

Foreign investors have invested in 19 out of 21 national economic sectors, of which the processing and manufacturing industry took the lead with a total investment of 16.8 billion USD, accounting for 60.6% of the total registered capital.

With 4.45 billion USD, the real estate sector ranked second, followed by power production and distribution with 2.26 billion USD.

This year, foreign investors have landed their investments in 54 Vietnamese provinces and cities. Ho Chi Minh City led the nation with 3.94 billion USD, and was followed by Binh Duong (3.14 billion USD), and Quang Ninh (2.37 billion USD).

Vietnam welcomes over 3.66 million foreign tourists in 2022

Vietnam greeted more than 707,000 international visitors in December 2022, an increase of 18.5% compared to the previous month, bringing the total figure for the whole year of 2022 to more than 3.66 million, according to the General Statistics Office (GSO).

International tourists visit Hoa Lo Prison Relic in Hanoi.

GSO said that international visitors to Vietnam this year were 23.3 times higher than the previous year because the country has opened up to tourism and international flight routes have been resumed. However, the number of visitors still decreased by 79.7% compared to 2019 when there was no COVID-19 epidemic.

Of the total international visitors, visitors arriving by air reached 3.277 million, accounting for 89.5%, and 29.5 times higher than the figure of last year. International arrivals by road reached 380,900, accounting for 10.4% and 8.4 times higher, while those by sea reached 3,100, accounting for 0.1% and 5.1 times higher.

The Republic of Korea still sent the most tourists to Vietnam with 201,489 arrivals in December. For the whole year, the number of Korean visitors is estimated at 965,366 arrivals.

Some localities recording higher tourism revenue in 2022 are: Can Tho 10.3 times; Binh Dinh 9.3 times; Khanh Hoa 8.2 times; Thua Thien Hue 8 times; Da Nang 6.7 times; Hanoi 4.1 times; Hai Phong 3.8 times; and Ho Chi Minh City 1.9 times.

In terms of revenue from accommodation and food services in 2022, a number of localities with higher growth rates compared to 2021 are: Ba Ria-Vung Tau up by 155.6%; Khanh Hoa 151.1%; Ho Chi Minh City 121.6%; Can Tho 121.3%; Lam Dong 118.4%; Da Nang 83.5%; Hanoi 80.4%; and Quang Ninh 57.8%.

According to the Vietnam National Administration of Tourism  (VNAT), by 2023, Vietnam sets a goal of welcoming 110 million tourists, including about 8 million international visitors and about 102 million domestic tourists. Total revenue from tourists will reach about 650 trillion VND.

VNAT continues to diversify the international tourist market, and promote tourism in many key markets such as ASEAN, Northeast Asia, Australia, Europe and North America.

Budget revenue in 2022 exceeds the estimate by 26.4%

Total state budget collection in 2022 is estimated at 1,784.8 trillion VND, equaling 126.4% of the year estimate and increasing by 13.8% from the previous year, according to the General Statistics Office (GSO).

Budget revenue in 2022 exceeds the estimate by 26.4% 

In which, domestic revenue reached 1,421.8 trillion VND, equivalent to 120.8% of the year’s estimate and up 9% from the previous year; budget revenue from import and export activities posted 280 trillion VND, equivalent to 140.7% of the estimate, up 29.7%.

GSO said that state budget expenditure in December 2022 totalled 203.3 trillion VND; bringing the figure of the whole year to 1,562.3 trillion VND, equivalent to 87.5% of the year’s estimate and increasing by 8.1% compared to 2021.

In which, recurrent expenditure this year posted 1,026.2 trillion VND, equivalent to 92.4% of the year’s estimate and increasing by 5.6% from the previous year; development investment expenditure reached 435.7 trillion VND, equivalent to 82.8% and increasing 22.2%; and interest debt payment was 97.5 trillion VND, equivalent to 94% and down 7.9%.

State budget expenditures meet the needs of socio-economic development, national defense and security, state management, payment of due debts, support for people facing difficulties due to the COVID-19 epidemic and production resumption in areas damaged by natural disasters and epidemics.

Vietnamese ports handled over 733 million tonnes of cargo in 2022

In 2022, the total volume of cargo handled at Vietnam's seaports increased by 4% compared to 2021, the lowest growth rate compared to the past few years, even though Vietnam has entered a new situation after the epidemic.

Accordingly, Vietnamese ports handled 733.18 million tonnes of cargo in 2022. Of the amount, 179.07 million tonnes were exports, down 3%, 209.26 million tonnes were imports, down 2%, and 342.79 million tonnes were domestic cargo, up 12% year-on-year.

Photo for illustration. (Source: VNA)

Container throughput was estimated at 25.09 million TEUs, up 5% from the previous year.

According to Deputy Director General of the Vietnam Maritime Administration Hoang Hong Giang, the slow growth of cargo through Vietnamese ports was due to many factors; in which the main reason is that the production, import and export activities of domestic enterprises have not really recovered over the past time.

In addition, China’s Zero COVID policy has affected corporate operations; including shipping companies.

However, seaport activities also saw notable bright spots. Specifically, Vietnamese seaports in Hai Phong, Ho Chi Minh City, and Ba Ria-Vung Tau have entered the list of 50 seaports with the largest cargo throughput in the world in 2022.

Gateway ports such as Lach Huyen (Hai Phong) and Cai Mep (Ba Ria-Vung Tau) are allowed to receive the world’s largest container ships (over 200,000 DWT).

Pangasius exports to ASEAN rise by 87%

By the end of November 2022, pangasius exports to the ASEAN market reached 183 million USD, up 87% over the same period last year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Notably, ASEAN accounts for 8% of Vietnam’s total pangasius exports in the first 11 months of 2022.

Photo for illustration. (Source: congthuong.vn) 

In 2022, besides the Chinese market, ASEAN countries also have great attraction for Vietnamese pangasius exporters. In particular, the top 4 markets in ASEAN importing the most pangasius from Vietnam, being Thailand, Singapore, Malaysia and the Philippines, all increased by 50-93% in the past 11 months.

In which, pangasius exports to Thailand by the end of November 2022 reached nearly 83 million USD, up 67% over the same period last year. This market attracted nearly 80 Vietnamese pangasius exporters.

In particular, Nam Viet Joint Stock Company alone accounts for more than a quarter of the market share in Thailand. It was followed by Hung Phuc Thinh Food Joint Stock Company, Vietnam CP Livestock Joint Stock Company, Seafood Direct 2012 One Member Limited Liability Company and Cuu Long An Giang Seafood Import-Export Joint Stock Company. After Nam Viet, the 4 companies accounted for 7% - 10% of Vietnamese pangasius exports to Thailand.

The majority of products exported to Thailand are frozen and cut-into-piece pangasius fillets. In addition, Vietnamese enterprises also exported cut-into-piece pangasius products, cut into spiced bars pangasius, and dried pangasius bubbles.

According to VASEP, in 2023, Thailand’s special domestic factors can create confidence for domestic businesses as well as foreign exporters like Vietnam. In particular, the two main growth drivers are the recovery of tourism and the post-election economic stimulus, which is expected to boost domestic consumption./.