Vietnam’s foreign investment outlook for 2024 remains promising, with the country already witnessing a surge in project attraction at the onset of the year.
According to the Foreign Investment Agency under the Ministry of Planning and Investment, Vietnam recorded over $2.36 billion in foreign direct investment (FDI) by January 20, marking a significant increase of 40.2% compared to the same period in 2023.
A total of 190 new projects received investment registration certificates, reflecting a year-on-year growth of 24.2%, with combined registered capital exceeding $2 billion, a remarkable 66.9% surge compared to the corresponding period last year.
Additionally, 75 projects sought to adjust their investment capital, contributing more than $235.4 million, showing a decrease of 15.7% and 23.1% respectively. Moreover, foreign investors injected over $116.5 million into 174 share purchases during the month, marking a decline of 14.7% and 33.1% respectively compared to the same period last year.
Notably, on January 13, Nghe An province authorities granted investment licenses to five foreign-invested projects, with a total capital of $390 million. Among them, Taiwan (China)’s Radiant Optoelectronics Co., Ltd. and Hong Kong (China)’s Everwin Precision secured investments of $120 million and $115 million respectively. Everwin Precision had also commenced a $200 million project at the Vietnam-Singapore Industrial Park (VSIP) in late October 2023.
Earlier, Hai Duong province awarded investment certificates to 27 projects worth over $1.5 billion, including significant FDI ventures such as a $270 million stationery factory by Deli Vietnam Office Technology Co., Ltd., a $260 million project by Biel Crystal Vietnam Manufacturing Limited, and a $120 million Boviet Hai Duong solar photovoltaic cell factory.
Dong Nai province approved nine projects in early January, four of which were foreign-invested, totaling $156.4 million. Additionally, $217 million was added to four existing FDI projects.
Speaking at the release of the Business Confidence Index (BCI) by the European Chamber of Commerce (EuroCham Vietnam), Chairman Gabor Fluit highlighted that 31% of EuroCham members now consider Vietnam among their top three global investment destinations.
