Singapore remained the largest investor in Vietnam during the four months with US$3.1 billion, or 28.8% of the total.
FDI commitments in Vietnam as of April 20 were estimated at over US$10.8 billion, a decline of nearly 12% against the same period of last year, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.
Electronics production at Quang Minh Industrial Park, Me Linh Province, Hanoi. Photo: Chien Cong |
Upon breaking down, a total of 454 new projects have been approved with combined registered capital of $3.7 billion, up 0.7% in the number of projects but down 56.3% in capital year-on-year, while 323 existing projects have been injected an additional $5.29 billion, up 93.5% in the capital.
Disbursement of foreign direct investment (FDI) projects in Vietnam totaled US$5.92 billion in the January-April period, up 7.6% year-on-year.
Investors have poured money into 18 out of 21 fields and sectors, in which manufacturing and processing led the pack with investment capital of nearly $6.2 billion, accounting for 57.2% of total registered capital. Real estate came second with $2.8 billion, or 26.1%, followed by wholesale and retail ($668 million).
Wholesale and retail, manufacturing, and science and technologies are fields that attracted the largest number of fresh projects, making up 28.6%, 25.8%, and 18.1%, in that order.
The report added that out of 72 countries and territories investing in Vietnam in the first four months of 2022, Singapore took the lead with $3.1 billion, or 28.8% of the total, South Korea came in second with $1.8 billion, and Denmark in third with the Lego manufacturing project in Binh Duong Province pouring $1.3 billion.
South Korean investors also topped the list with the highest number of new projects and those being injected with additional capital, making up 18.7% and 33.7%, respectively.
Among 44 cities/provinces receiving investment capital from abroad during the three months, Binh Duong claimed the top spot with nearly $2.35 billion, or 21.7% of the total, followed by Bac Ninh with $1.57 billion, and Ho Chi Minh City with $1.28 billion.
However, investors are still favoring major cities with adequate infrastructure systems, such as Hanoi and Ho Chi Minh City, noted the FIA, referring to Ho Chi Minh City taking the lead in terms of fresh projects with 40%, and Hanoi of the first spot in the number of projects getting additional funds (16.1%).
Other News
- Vietnam seeks to strengthen ties with Finland
- Vietnam urged to soon implement PDP VIII
- Argentina seeks to elevate ties with Vietnam to strategic partnership
- Vietnamese Gov’t to strengthen gold market management
- South Korea to increase ODA by 50% to Vietnam in 2024
- Vietnam a priority for Dutch businesses in Southeast Asia
- Hanoi promotes legal awareness and consumer rights protection initiatives
- Vietnam seeks Japan’s new-generation ODA for major transport projects
- Finance ministry expected to impose 50% duty on e-cigarettes
- South Korea’s SK Group eyes green hydrogen project in Vietnam
Trending
-
Hanoi, a city of music in the making
-
Vietnam urges respect for international law in East Sea
-
Hanoi kicks off communication contest on Dien Bien Phu victory
-
French education group Odyssey keen on strengthening cooperation with Hanoi
-
Hanoi, Shanghai strengthen investment cooperation
-
UOB Painting of the Year Award opens doors to the world for Vietnamese artists
-
Grapefruit blossom perfume Hanoi's air
-
MICE tourism: Vietnam's lucrative “golden market” unveiled
-
Vietnam: Sleep Tourism on the rise