Electricity, electronics, processing and manufacturing industries are forecasted to continue to attract FDI investors and factory construction projects in 2022 in Vietnam.
Vietnam’s FDI attraction in 2021
Vietnam’s total FDI in 2021 reached more than 31.15 billion USD, up 9.2% compared to 2020. Foreign investors have invested in 18 industries out of 21 national economic sectors, in which The processing and manufacturing industry leads the way with a total capital of over 18.1 billion USD.
Many large FDI projects, in the field of processing and manufacturing industry, that Vietnam has successfully attracted investment in 2021 such as: Hai Phong LG Display (Korea) project adjusted to increase investment capital by 2 ,15 billion USD; Vina Kraft paper factory project (Japan) with a capacity of 800,000 tons/year and total investment capital of 611.4 million USD; Polytex Far Eastern Vietnam Co., Ltd Project (Taiwan), adjusted to increase investment capital by 610 million USD…
“Overcoming many difficulties, the value of the whole industry in 2021 increased by 4.82% compared to 2020. This is an important factor in promoting the country’s economic growth in 2022,” said Ms. Nguyen Thi Huong, General Director of General Statistics Office.
The trend of FDI moving into high-value industries
According to a report by Savills – a leading real estate consulting group in the world, Vietnam is transitioning from labor-intensive industries to high-value industries such as electricity, electronics, processing and manufacturing industry. This trend is becoming more and more obvious in Vietnam, since a series of technology giants appeared and deployed smart factory projects such as ABB, Nestle, Honda, Samsung, Daikin, GS-Yuasa…
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GS Battery Smart Factory in Binh Duong by DELCO as the Design – Build General Contractor and providing Smart Factory solutions, helping to save electricity up to 25% and improving the life of factory equipment and machinery.
Read more: The 2nd Vietnam GS Battery Factory Construction Project – Phase 2
The advantages of Hai Phong to attract FDI investors and factory constructions
According to the Foreign Investment Agency (Ministry of Planning and Investment), with the aim of selectively attracting investment, Vietnam has announced many preferential investment policies in the fields of high technology, modern technology, especially R&D projects. In the coming time, FDI will move into high-value industries and Vietnam is becoming a destination for multinational corporations applied high technology.
2022 is also the year that the Regional Comprehensive Economic Partnership (RCEP) comes into force, and many important free trade agreements (FTAs) of Vietnam continue to implement the committed roadmaps. Vietnam’s economic opening is getting bigger and bigger to the world. Some experts believe that foreign investment in Vietnam is forecast to break through in 2022.
Information sources: Investment Newspaper, Government Electronic Newspaper
