In the first 9 months of 2024, FDI into Vietnam reached 24.78 billion USD, an 11.6% increase compared to the same period in 2023, attracting 2,492 new projects and 1,027 capital adjustment registrations.
FDI in Vietnam 2024 increases by 11.6%
In the first nine months of 2024, Vietnam attracted 24.78 billion USD in foreign direct investment (FDI), an increase of 11.6% compared to the same period last year. Specifically, 2,492 new projects were registered with a total capital of more than 13.55 billion USD; 1,027 projects registered for capital adjustments, adding more than 7.64 billion USD. Realized FDI is estimated to have reached 17.3 billion USD, up 8.9% compared to FDI in Vietnam in the same period in 2023, marking the highest level in the past five years.
Notably, in September alone, registered FDI reached 4.26 billion USD, accounting for 17.2% of the total since the beginning of the year. This period saw many provinces announce development plans, promote investment programs, meet with partners, and launch green and sustainable development strategies, implementing Vietnam’s Net Zero roadmap. These initiatives are expected to further boost FDI attraction in Vietnam during the last three months of the year.
FDI structure in the first 9 months of 2024
As of now, FDI investors have invested in 19 out of 21 national economic sectors, with the processing and manufacturing industry continuing to lead with over 298.7 billion USD, accounting for 60.7% of total FDI in Vietnam. The real estate business ranked second with over 71.5 billion USD, equivalent to 14.5% of total investment. The electricity production and distribution sector ranked third with 41.7 billion USD, accounting for 8.5%.
In terms of investment partners, Vietnam currently has 148 countries and territories with active investment projects. South Korea leads with nearly 88.3 billion USD, accounting for 18% of total FDI in the country. Singapore ranks second with more than 81.1 billion USD, accounting for 16.5%, followed by Japan, Taiwan, and Hong Kong. FDI investors are concentrated mainly in major industrial provinces with significant FDI advantages, such as Bac Ninh, Ho Chi Minh City, Quang Ninh, Ba Ria – Vung Tau, Binh Duong, Ha Noi, Hai Phong, Dong Nai, Bac Giang, and Ninh Thuan. These 10 localities alone attracted 80.1% of new projects and 72.9% of total FDI in the past nine months.
FDI in Vietnam 2024 could reach 40 billion USD
In 2024, Vietnam attracted many large projects, especially in semiconductors, energy, and electronic component manufacturing. Some major projects include the expansion of Amkor Technology Vietnam’s factory, with an additional investment of approximately 1.07 billion USD; the Foxconn FCPV Bac Ninh plant with a total capital of 383.3 million USD; the Goertek Nam Son – Hap Linh project with an investment of 280 million USD; and the printed circuit board project by Victoria Giant Vietnam, with an investment of 260 million USD.
Additionally, the 2024 Vietnam Innovation Day attracted participation from major technology corporations such as NVIDIA, Qualcomm, Intel, AMD, Samsung, and Meta. During this event, several corporations committed to investing in Vietnam, with NVIDIA pledging to support Vietnam’s industrial innovation, while Meta plans to expand virtual reality device production in Vietnam starting in 2025. Earlier, Samsung announced plans to invest an additional 1.8 billion USD in its LED display manufacturing plant in Bac Ninh.
With these positive signals since the beginning of the year, Vietnam has set a target of attracting 39–40 billion USD in FDI in 2024. This is considered an achievable goal based on the steady growth of FDI inflows and the preparation of upcoming FDI projects in Vietnam.
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