In the first seven months of 2024, foreign direct investment (FDI) registered in Vietnam totaled over US$18 billion.

According to recent data released by the Foreign Investment Agency under the Ministry of Planning and Investment, the statistical report for July shows that foreign direct investment registered in Vietnam reached over $2.8 billion, accounting for 15.6 percent of the total FDI during the first seven months of the year. 

From the beginning of the year until July 20, the total registered FDI in Vietnam exceeded $18 billion marking a 10.9-percent increase compared to the same period in 2023. 

Additionally, the disbursed capital during this period amounted to over $12.55 billion reflecting an 8.4-percent growth.

New investment has increased in terms of registered capital, the number of projects, and the scale of investment. A project has capital averaging over $5.9 million, higher than $4.9 million per project in the first 7 months of 2023.

In terms of investment, over the past 7 months, foreign investors have invested in 18 out of 21 national economic sectors. Among these, the manufacturing and processing industry leads with a total registered investment capital of over $12.65 billion, accounting for 70.3 percent of the total registered investment, a 15.7 percent increase compared to the same period. 

The real estate business sector ranks second with a total registered investment capital of over $2.87 billion, representing nearly 16 percent of the total registered investment, a significant 78 percent increase compared to the same period.

In terms of investment partners, the Foreign Investment Agency reports that 91 countries and territories have been pouring investments in Vietnam during the first seven months of 2024.

Singapore takes the lead with a total investment capital of nearly $6.52 billion, accounting for approximately 36.2 percent of the total investment, a remarkable 79.1 percent increase compared to 2023. Hong Kong (China) ranks second with over $2.19 billion, constituting 12.2 percent of the total investment, more than doubling the amount from the same period. Japan, China, and South Korea closely follow.

Notably, a project from an investor in Kyrgyzstan has a registered capital of only $5 million, but it marks the first investment from this economy into Vietnam. Foreign investors have invested in 48 provinces and cities across the country during the first 7 months of 2024. 

The Northern Province of Bac Ninh received the most investment with a total registered investment capital of nearly $3.2 billion, accounting for approximately 17.8 percent of the nationwide total investment, more than triple the amount from the same period. 

The Northern Province of Quang Ninh follows with over $1.56 billion; Ho Chi Minh City ranks third with a total registered investment capital of nearly $1.55 billion. The subsequent rankings include the Southern Province of Ba Ria - Vung Tau, Hanoi, and the Northern City of Hai Phong.

The largest foreign investment project since the beginning of the year is by the Amkor Group which increased additional investment capital by $1.07 billion.

Source: SGGP News