Actual FDI to Vietnam raises by 10% to US$12 billion in seven months
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 disbursement of foreign direct investment (FDI) in Vietnam during the first seven months of 2022 reached nearly US$12 billion, up 10.2% year-on-year, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.
|Production of electronic components at YPE Vina Company at Binh Xuyen 2 Industrial Park, Vinh Phuc Province. Photo: Hoang Hung|
The FDI commitments to the country declined by 7% year-on-year to $15.41 billion during the period.
In the seven months, 927 new projects have been approved with total registered capital of $5.72 billion, down 8% in the number of projects and 43.5% in capital year-on-year, while 579 existing projects have been injected an additional $7.24 billion, up 3.2% in number and 59.3% in the capital.
Meanwhile, 2,072 projects had nearly $2.58 billion contributed by foreign investors, which was down 13.8% across several projects, but up 25.7% in value year-on-year.
Investors have poured money into 18 out of 21 economic fields and sectors, in which manufacturing and processing led the pack with investment capital of over $10 billion, accounting for 64.3% of total registered capital. Real estate came second with $3.21 billion, or 20.7%, followed by science and technology with $526.2 million.
According to the FIA, the wholesale, retail, and manufacturing sector made up the largest number of new projects at 30.5% and 26.6%, respectively.
Among 51 cities and provinces having received FDI in the period, the southern province of Binh Duong has attracted the largest portion of commitments with $2.6 billion, or 16.7% of the total. Ho Chi Minh City ranked second with over $2.43 billion (15.6%), followed by Bac Ninh with $1.68 billion (10.8%).
The FIA, however, noted the majority of new projects are concentrated in major cities with advantages in infrastructure systems, such as Ho Chi Minh City, or 40.2% of the new projects, while Hanoi topping the list in terms of projects with additional funds, or 17.8%.
The report added that out of 88 countries and territories having projects in Vietnam in the first half of 2022, Singapore took the lead with $4.3 billion, or 27.7% of the total newly registered FDI projects, followed by South Korea with $3.26 billion, or 21%, and Denmark with US$1.32 billion, or 8.55%.
South Korea claimed the top spot in terms of new projects and projects with capital increases, with 22.7% and 37% respectively.
- FPT Software and Singapore’s NCS jointly develop technology center
- Actual FDI to Vietnam raises by 10% to US$12 billion in seven months
- Vietnamese Gov’t eyes construction of Tan Son Nhat Airport’s new terminal in Q3
- Economic cooperation - a highlight of Vietnam-Oman relationship
- JBIC prioritizes partnership with Vietnam
- Vietnam and India open new direct flights
- More foreign investors land in Vietnam's industrial parks
- ADB, LDC sign US$100 million loans to support smallholder farmer livelihoods
- Vietnam’s selective FDI attraction strategy yields early results
- FDI in Vietnam rises to 5-year high in Q1
Vietnam needs financial resources to advance gender equality
Over US$34 billion set to pour into Vietnam’s real estate market this year
“Produce more from less”: Danish agricultural philosophy for Vietnam
One Year After, One Year Lost
Cultural industry to contribute 5% of Hanoi’s GRDP by 2025
Vietnam is stunning in South Korean artist’s MV
Hanoi focuses on supporting business recovery: Mayor
Construction of Hanoi’s Ring-road No.4 set to begin next June
Dolphin shows fascinate audiences in Hanoi