- April 25, 2023
- Posted by: GBS
- Categories: Business, Economics
Vietnam attracted almost $8.9 billion in foreign investment by April 20, which is equivalent to 82.1% of the amount received during the same period last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
Of this figure, $5.85 billion was disbursed during the first four months of this year, a decrease of 1.2% year on year. Despite global investment volatility and the introduction of a 15% global minimum tax rate on multinational companies with revenue over €750 million ($829.3 million) later this year by many developed countries, the figures are still considered a positive sign for Vietnam.
Related: How to register a foreign invested project in Vietnam
As of April 20, Vietnam had 37,100 operational foreign-invested projects with a total registered capital of almost $445.9 billion. Over $279.8 billion of this total has been disbursed, which is 62.8% of the registered amount.
During the first four months of 2023, foreign investors registered more than $4.1 billion to invest in 750 new projects. Additionally, 386 operational foreign direct investment projects increased their investment by almost $1.66 billion. Foreign investors also contributed funds and acquired shares in around 1,000 local firms, with a total capital of $3.1 billion.
Foreign investors invested in 18 out of 21 national economic industries in Vietnam, with the processing and manufacturing sector receiving the highest investment at $5.1 billion, which is 57.8% of the total registered capital. The finance and banking sector ranked second with over $1.5 billion, representing 17% of the total, followed by the real estate sector with nearly $972 million.
Seventy-seven countries and territories invested in Vietnam during the four-month period. Singapore was the largest investor, contributing nearly $2.2 billion, followed by Japan with around $2 billion and China with nearly $752 million. However, South Korea had the most new projects and operational projects with revised investment.
Foreign investors pledged investments in 46 cities and provinces in Vietnam, with Hanoi receiving the largest amount of foreign investment at more than $1.1 billion.
Northern Bac Giang Province followed with over $1 billion, while Ho Chi Minh City and its neighboring provinces, Binh Duong and Dong Nai, also received significant investments. Ho Chi Minh City had the highest number of foreign-invested projects during January-April.