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Update news FDI
Many provinces and cities across Vietnam have announced quite optimistic results in attracting Foreign Direct Investment (FDI) projects in the last months of the year.
In order to avoid the middle-income trap, Vietnam needs to change its strategy on attracting foreign direct investment (FDI). FDI attraction over the last 30 years hasn’t succeeded as expected.
Many indicators show that Vietnam has opportunities for large-scale foreign direct investment (FDI) inflows. However, this will depend on Vietnam's policy response.
Ho Chi Minh City topped the country in foreign direct investment (FDI) attraction in the first eight months of 2022, accounting for 16.1% of the national figure, according to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).
Vietnam will move to attract large enterprises and corporations with high technology, said Nguyen Anh Tuan, deputy director of the Ministry of Planning and Investment's Foreign Investment Agency.
Vietnam is regarded as an outstanding investment destination for high-value manufacturing with production capacity satisfying international investors, said Christopher J. Marriott, CEO of Savills Southeast Asia.
Vietnam raked in nearly 16.8 billion USD in foreign direct investment (FDI) as of August 20, down 12.3% year-on-year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
South Korea is one of the largest investors in Vietnam.
The People's Committee of Da Nang City recently granted investment registration certificates and policy approval decisions for 27 projects, with a total proposed investment capital of more than US$5.6 billion.
Thai retail conglomerate Central Group is planning to expand aggressively at home and in neighboring Vietnam, hoping to tap an expected jump in demand when the COVID-19 pandemic ends, according to Nikkei Asia.
Competition is increasingly fierce, so tech giants are interested in investing in research and development (R&D) to maintain growth and beat their competitors.
Foxconn Group plans to invest more than US$300 million in a new project in Bac Giang Province and employ over 30,000 local workers.
With its vibrant economic development, Vietnam offers an unparalleled investment destination for Singaporean corporations.
The Vietnamese medical devices market, which is growing annually at more than 18%, relies heavily on imports, representing significant opportunities for foreign businesses, according to the Ho Chi Minh City Medical Equipment Association.
Industrial parks (IPs) and economic zones (EZs) across the country have attracted nearly 11,000 foreign direct investment projects worth US$230 billion, according to Deputy Minister of Planning and Investment Tran Quoc Phuong.
The R&D center in Hanoi, scheduled to be completed by late 2022, would be Samsung’s major R&D hub not only in Vietnam but also the whole of Southeast Asia.
Samsung Electronics plans to manufacture semiconductor products at its Samsung Electro-Mechanics Vietnam located in Thai Nguyen province in July 2023, Samsung Electronics CEO Roh Tae-Moon told PM Pham Minh Chinh in Hanoi on August 5.
Foreign investors have poured a total of US$15.41 billion into the country during the initial seven months of the year, equivalent to 92.9% compared to the same period from last year.
Ho Chi Minh City has called on US enterprises to invest in 10 major projects of the city, especially those in infrastructure construction.
The country’s ambitious targets of wooing foreign investments this year are expected to be within reach, in defiance of uncertainties affecting global funding flows.