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| Foreign investment projects in Vietnam are mainly in industrial parks.( Photo: nhandan.vn) |
Of which, the processing and manufacturing sector reached 4.93 billion USD, accounting for 78.5% of total realized FDI capital; real estate business activities reached 607.6 million USD, accounting for 9.7%; and production and distribution of electricity, gas, hot water, steam and air conditioning reached 259.8 million USD, accounting for 4.1%.
As of April 20, 2024, total FDI capital registered in Vietnam reached nearly 9.27 billion USD, a year-on-year rise of 4.5%. Newly registered capital has 966 licensed projects with 7.11 billion USD, a year-on-year rise of 28.8% in number of projects and a year-on-year increase of 73.2% in registered capital.
Specifically, the processing and manufacturing industry led the FDI influx with nearly 4.93 billion USD, making up 78.5% of the total, followed by real estate with 607.6 million USD. Other top FDI beneficiaries were wholesale & retail, and scientific and technological activities.
Many large projects in the energy sector (production of batteries, photovoltaic cells, silicon bars), production of components, electronic products and high value-added products have been newly invested and had capital increase in the four months.
According to the Foreign Investment Agency under the Ministry of Planning and Investment, April recorded a higher amount of new investment capital and value of capital contribution and share purchase transactions than the first months of the year.
Among the 50 countries and territories with newly-licensed projects in Vietnam in the first four months this year, Singapore was the biggest with 2.59 billion USD, making up 36.4% of the total. Hong Kong (China) came second with 898.6 million USD, while Japan took the third position at 814.1 million USD.
Mr. Lim Dyi Chang, Senior Director of Corporate Banking, UOB Vietnam, said that the Vietnamese Government’s FDI attraction policies have significantly contributed to promoting a favorable business environment and developing partnerships with financial institutions.
“The processing and manufacturing sector continues to attract the most significant foreign investment, with Vietnam serving as a production base for many high-tech products. Looking to the future, Vietnam has enormous potential to become a leading hub for high-tech and high-value industries, driven by the digital transformation of the economy and the pressure of global climate change,” Mr. Lim Dyi Chang commented.
According to the Ministry of Planning and Investment, currently, Vietnam is focusing on strategic breakthroughs in institutions, infrastructure and human resource development, with the policy of selectively attracting and cooperating with foreign investment, taking quality, efficiency, technology and environmental protection as the main evaluation criteria.
Vietnam’s business investment environment continues to be positively evaluated by the international community. Many multinational corporations, especially large corporations in the fields of technology, electronics and semiconductors, have been researching to establish a production base in Vietnam.
Currently, Vietnam is training 100,000 high-quality engineers, including 50,000 in the semiconductor industry, to be ready to receive opportunities and projects to develop strategic areas, especially large FDI projects./.