According to data from the Ministry of Planning and Investment, registered FDI in Vietnam for the first quarter of 2024 reached over USD 6.17 billion, marking a 13.4% increase compared to the same period in 2023, with a positive upward trend expected in the upcoming quarters.
Leading provinces in attracting FDI in Vietnam for Q1 2024.
Registered FDI in Vietnam continued its positive growth trajectory, as reported by the Ministry of Planning and Investment. In the first quarter of 2024, Vietnam registered FDI reached over USD 6.17 billion, an crease of 13.4% compared to the same period in 2023. Of which, newly registered capital reached more than 4.77 billion USD, an increase of 57.9% over the same period last year, additional capital reached 934.6 million USD and investment capital through contributions Capital and share purchases reached more than 466 million USD.
FDI capital in the first quarter of 2024 is mainly poured into 42 provinces and cities across the country, concentrated in provinces with good infrastructure. Hanoi is the top registered FDI city with more than 970.8 million USD, accounting for 15.7% of total registered investment capital nationwide. Bac Ninh ranked second with 745.2 million USD, accounting for 12.1%; followed by Quang Ninh, Thai Nguyen, City. Ho Chi Minh and Dong Nai.
17/19 economic sectors received new registered FDI, Singapore continued to be the country investing the most in Vietnam
In the first 3 months of 2024, foreign investors invested in 17/19 economic sectors in Vietnam. The manufacturing and processing industry attract the largest amount of FDI capital with a total of 3.93 billion USD, accounting for 63.6 % of total registered capital, followed by real estate business with 1.58 billion accounting for 25.6%, wholesale and retail sector with 224.8 million USD and scientific and professional activities technology with 190.17 million USD.
Regarding investing countries, in Q1 2024 there were 62 countries and territories investing in Vietnam. Singapore continues to be the country investing the most in Vietnam with a total capital exceeds 2.55 billion USD, accounting for 41.3% of total FDI capital in Vietnam, followed by Hong Kong, China, and Japan with investment capital investment is 1.05 billion USD, 552.4 million USD and 520.2 million USD respectively.
In particular, Vietnam has become an attractive destination for many high-tech corporations, global brands in the world. For example, Apple has announced plans to bring iPad design and production activities to Vietnam. Large semiconductor electronics industries such as Intel, Samsung, Qualcomm, Amkor… are also planning to expand production in Vietnam.
Besides, according to EuroCham’s Whitebook 2024, 63% of businesses participating in the survey ranked Vietnam in the top 10 destinations for FDI firms, 31% rated Vietnam as one of the top 3 investment targets and 16% see Vietnam as the best destination. This is a good sign that attracting FDI will be one of the bright spots contributing to Vietnam’s economic growth.
See more: NVIDIA continued to visit Vietnam to survey investment and factory construction locations
See more: Trends in the development of high-tech industry in Vietnam
