Foreign Direct Investment (FDI) Surges by Almost 39% in Two-Month Period

Vietnam has successfully attracted over US$4.29 billion in foreign direct investment during the initial two months of 2024, marking a notable increase of 38.6% compared to the same period last year, as reported by the Foreign Trade Agency.

Within this timeframe, 405 new projects were granted investment certificates, with a combined registered capital of US$3.6 billion, reflecting a significant surge of 55.2% in volume and doubling the value recorded in the corresponding period of the previous year.

Meanwhile, 159 projects witnessed adjustments in their capital, totaling $442.1 million, representing a 19.5% increase in volume and a 17.4% decrease in value year-on-year, respectively.

Capital contributions and share purchases experienced a decline of 68% year-on-year, reaching $255.4 million.

An impressive $2.8 billion in FDI was disbursed during the two-month period, marking a notable expansion of 9.8% from the corresponding period of 2023.

The top ten localities in terms of FDI attraction, including Hanoi, Quang Ninh, Thai Nguyen, Ba Ria – Vung Tau, Bac Ninh, Dong Nai, Bac Giang, Ho Chi Minh City, Hai Phong, and Hung Yen, accounted for a significant share of 81.7% of the foreign capital inflow during this period, according to the Foreign Trade Agency.

Hanoi emerged as the leading locality in FDI attraction, securing nearly $914.4 million, a staggering increase of 24.4 times compared to the same period in 2023.

Among the 48 countries and territories investing in Vietnam during January-February, Singapore emerged as the largest investor, injecting over $2.08 billion into the country, followed by Hong Kong (China), Japan, and China.

Investors allocated capital across 16 out of 21 economic sectors, with the processing and manufacturing industry leading the way with a total investment of nearly $2.54 billion. This was followed by the real estate sector ($1.41 billion), wholesale and retail ($125.2 million), and scientific and technological activities (nearly $76.4 million).

During the two-month period, the foreign-invested sector achieved a trade surplus of more than $8.6 billion (excluding crude oil), helping to offset the domestic sector’s trade deficit of $4.63 billion.

As of February 2024, Vietnam had 39,553 valid projects with a total registered capital of $473.1 billion, with nearly $300 billion disbursed thus far.

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