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Between January and September, Hanoi's domestic companies earned a total of US$7.1 billion from exports, while FDI firms sold $6 billion worth of products to overseas markets.

Companies have seen their business situation on the uptrend recently, amid Vietnam's positive economic performance, and expect to continue to bet on staying for the long term.

FDI in Hanoi has been upward in recent years, especially as Vietnam becomes increasingly integrated into the global economy.

Foreign businesses continue to show their confidence in Vietnam’s investment environment.

Despite the challenging global economic environment, Hanoi has been creative in promoting investment facilitation programs and accompanying businesses in their recovery efforts from severe Covid-19 impacts.

Vietnam continues to show its attractiveness to foreign investors, especially with its portfolio of high-quality projects.

Singapore continued to be Vietnam’s largest investor during the seven months with $4.3 billion, or 27.7% of the total newly registered FDI projects.

The high complementary nature of the two economies has laid the foundation for both to significantly boost economic, trade, and investment cooperation over the years.

Vietnam remains a favorite destination for foreign firms seeking to shield from a combination of geopolitical tensions, rising operational costs thanks to the country’s strong economic performance in recent years.

Reopening the economy is key to keeping the strong inflow of FDI into economic sectors.

The disbursement of approved FDI projects increased by 8.7% year-on-year in March, the fourth month of increase as post-Covid-19 lockdown constraints ease.

The amount of FDI capital pouring into fields of high environmental risks, obsolete technologies or labor-intensive industries has been on the decline.

The report added that out of 65 countries and territories investing in Vietnam in the first three months of 2022, Singapore took the lead with $2.29 billion, or 25.7% of the total.

Vietnam stands firm as a safe, attractive, and high potential investment option for foreign investors in 2022, said Minister of Planning and Investment Nguyen Chi Dung.

Enterprises in the processing and manufacturing industries have a good feeling about their business activities.

Singapore was Vietnam’s largest investor in 2021 with registered capital of U$10.7 billion or 34.4% of the total newly registered FDI projects.