In the first two months of 2024, Hanoi has drawn in a total of $914.4 million in foreign investment. This comprises 27 freshly licensed projects with an investment of $869.8 million, 17 projects that received additional funding worth $9.1 million, and 21 instances of foreign investors contributing capital or purchasing shares, amounting to $35.45 million.
Foreign investors have spread their investments across 38 cities and provinces nationwide this year. Hanoi has taken the lead with a total registered foreign direct investment (FDI) of nearly $914.4 million, making up 21.3 percent of the total registered investment capital and showing a significant increase compared to the same period in 2023, up by 24.4 times.
According to the Hanoi Statistics Office, in January, the capital attracted $866.8 million in FDI. Out of this, 10 newly licensed projects contributed $859.4 million, while six projects underwent adjustments, adding an additional registered capital of $5.1 million. Foreign investors also contributed capital or purchased shares in seven ventures, totaling $2.3 million.
In February, Hanoi approved 17 new foreign-invested projects, with a total registered capital of nearly $10 million. Furthermore, 11 projects underwent adjustments, resulting in an increased registered capital of $4 million. Foreign investors also contributed capital or purchased shares in 12 instances, reaching a total of $17.3 million.
Hanoi is acknowledged for its investment-friendly environment, particularly for high-tech investors. The city not only focuses on establishing favorable policies but also endeavors to develop industrial zones, especially those specializing in high technology.
According to a report from the Foreign Investment Agency, Hanoi’s investment capital has witnessed a substantial surge due to a major new project worth over $662 million from Singapore, focusing on developing a new urban area in the west of Hanoi. This project is also regarded as one of the largest real estate transactions in Southeast Asia.