FDI FLOWS INTO VIETNAM GO UP 14.8 PER CENT IN 11 MONTHS

Nearly 28.85 billion USD in foreign direct investment (FDI) was registered as of November 20, rising 14.8 per cent year on year, reported the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

FIA said on November 27 that foreign investors have invested in 56 provinces and cities during the 11 months of 2023.

The northern province of Quang Ninh remains the biggest destination of FDI with nearly 3.11 billion USD, up 42.3 per cent from the period last year. It is followed by Ho Chi Minh City with over 3.08 billion USD, Hai Phong city 2.8 billion USD, Bac Giang province 2.7 billion USD, and Hanoi 2.6 billion USD.

HCM City, accounting for 10.7 per cent of the total FDI, takes the lead in the numbers of new projects (38 per cent), those with additional capital (25.3 per cent), and capital contributions to or purchases of shares at domestic companies (66.6 per cent), statistics show.

As of November 20, there were 38,844 valid FDI projects worth almost 462.4 billion USD in total across Vietnam. Nearly 294.2 billion USD of the projects’ registered capital was disbursed, equivalent to 63.6 per cent, according to FIA.

Source: VIR