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Vietnam's FDI Reaches $11.07 Billion in First Five Months of 2024

Mr.Believer Mr.Believer posted on 29/05/2024

Vietnam's foreign direct investment (FDI) surged to $11.07 billion in the first five months of 2024, marking a 2% increase compared to the same period last year, as reported by the Foreign Investment Agency under the Ministry of Planning and Investment (MPI).

FDI project actualization stood at approximately $8.25 billion, reflecting a robust 7.8% year-on-year growth.

By May 20, Vietnam was home to 40,285 active FDI projects, boasting a total registered capital of $481.33 billion, with $305.43 billion, or 63.5%, of this capital having been disbursed.

The FDI sector enjoyed a trade surplus of $19.57 billion, including crude oil, and $18.52 billion, excluding crude oil. Conversely, the domestic sector recorded a trade deficit exceeding $11.05 billion within the same timeframe.

Manufacturing and processing industries led the investment influx, securing over $7.43 billion, representing 67.1% of total sector investment and an 11.9% increase from the previous year. The property sector followed, attracting nearly $1.98 billion, or 17.9% of total registered capital, showcasing a significant 70.8% year-on-year rise. Wholesale, retail, transportation, and warehousing sectors collectively garnered over $856.4 million in investment.

The manufacturing and processing industry not only topped the list in terms of new project numbers (35.9% of all new projects) but also led in capital adjustments (62.3% of all projects). Meanwhile, wholesale and retail sectors dominated capital contributions and share purchases, accounting for 43.4%.

Singapore emerged as the top investor among 78 countries and territories, injecting nearly $3.25 billion into Vietnam, which constitutes 29.3% of total FDI, up from 28.2% last year. Hong Kong (China) followed with nearly $1.45 billion, making up 13.1% and reflecting a remarkable 220% increase. Other major investors included China, Japan, and South Korea, with China leading in new investment projects at 28.3%.

Vietnam’s impressive FDI performance underscores its growing appeal as a prime destination for global investors, fueled by dynamic economic sectors and a favorable business environment.

 

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