Singapore ranks first among foreign investors in Vietnam this year

Tuesday, 27/12/2022 16:56
Vietnam attracted a total of 27.72 billion USD in foreign direct investment (FDI) as of December 20, equal to 89% of the figure of the same period last year, Vietnam News Agency quoted statistics of the Ministry of Planning and Investment.
Vietnam attracts a total of 27.72 billion USD in foreign direct investment as of December 20. (Photo: VNA) 

Specifically, there were 2,036 newly-registered FDI projects worth 12.45 billion USD, up 17.1% year-on-year in the number of projects, but down 18.4% in value.

Meanwhile, 1,107 projects had their capital adjusted, with a total amount of 10.12 billion USD, up 12.4% and 12.2% year-on-year, respectively.

There were also 3,566 capital contributions and share purchases with a total amount of 5.15 billion USD, down 6.1% and 25.2%, respectively.

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

Illustrative image (Photo: VNA) 

Also in 2022, Vietnam’s outbound investment, including both newly-registered and adjusted capital, reached nearly 534 million USD.

Of the total, there were 109 new projects valued at 426.6 million USD, up 78.7% year-on-year in the number of projects, and 4.3% in value.

Vietnamese investors poured capital into 29 nations and territories, with Singapore ranking first with 79.5 million USD.

Vietnam sets new record in import-export turnover

Garment and textile products have been strength of Vietnam (Photo: VNA) 

Vietnam’s import-export revenue is likely to hit a record of 728.9 billion USD in 2022, Vietnam News Agency quoted statistics of the General Department of Vietnam Customs.

As of December 15, the country’s total import-export turnover had reached 701.3 billion USD, including 355.82 billion USD worth of exports, the highest so far.

Strong growth was seen in the exports of both domestic and foreign-invested sectors, with the later contributing 74.6%.

Upturn was reported in the export revenue of 35 out of 45 commodities, with 11 enjoying an increase of over 1 billion USD.

Meanwhile, 36 out of 45 exports recorded revenue of over 1 billion USD, including eight with more than 10 billion USD.

As of December 15, the country enjoyed trade surplus of 10.36 billion USD.

Illustrative image (Source: VNA) 

Economist Dinh Trong Thinh held that the surge in exports showed the efficiency of Vietnam’s market opening policy and post-pandemic recovery measures.

Some experts attributed the results to the recovery of export markets and advantages from free trade agreements (FTA). At the same time, foreign corporations' investment shifting for the restructuring of supply chains with larger production scale has also motivated import-export activities.

Minister of Industry and Trade Nguyen Hong Dien said that in 2023, the global trade is facing many pressures due to complicated developments of geopolitical tensions and increased inflation. This has forced many governments to tighten fiscal and monetary policies.

He advised businesses to change their mindset and pay greater attention to “greening” the supply chain in the international trade to meet increasing technical requirements of the world market.

The minister stressed the need to keep a close eye on the domestic and global economic developments to give timely response.

He also pointed to the necessity to strengthen market forecasts and the update of new policies and regulations in foreign markets, while continuing to optimise advantages from FTAs.

Nha Trang, Vung Tau named among world’s top 10 global beaches

A recent study conducted by UK luxury holiday company Destination2 has listed Nha Trang beach and Vung Tau beach in Vietnam among the top 10 most popular beaches worldwide, reported VOV News.

Nha Trang is renowned for being one of the top beach holiday destinations in Vietnam 

The travel company compiled a list of the most popular beaches on TikTok using their hashtags before ranking them based on the number of views.

Nha Trang beach, situated in the central coastal province of Khanh Hoa, ranked third with 64.6 million views, while Vung Tau beach in the southern province of Ba Ria-Vung Tau racked up 61.9 million views.

Bondi Beach of Australia topped the rankings with a whopping 445.8 million views, three times higher than Pattaya beach in Thailand which finished as runner-up with 128.5 million views.

This was followed by Waikiki Beach in the United States with 43.7 million views, JBR Beach of Dubai with 30.3 million views, Kelingking Beach of Indonesia with 30 million views, and Santa Monica Beach of the US with 29 million views. Other sites making the list include Airlie Beach of Australia with 27.8 million views and Whitehaven Beach of Australia with 23.5 million views.

Nha Trang is renowned for being one of the top beach holiday destinations in Vietnam, where visitors are able to enjoy a range of activities such as boat cruises, hot air balloon rides over the scenic coast, and scuba diving.

In a poll conducted in 2015 by TripAdvisor, Nha Trang was named among the leading 10 cities in the world as voted for by global travelers for being among the newly-emerging destinations in Asia.

To most local and foreign tourists, Vung Tau is one of the most interesting destinations and is much loved due to its extensive array of beaches. Tourists typically prefer sightseeing at Front Beach, known locally as Bai Truoc, and going swimming in Back Beach, also known as Bai Sau./.