$2.36 billion of FDI flows into Vietnam in January

According to the Foreign Investment Agency under the Ministry of Planning and Investment, over $2.36 billion in FDI was registered as of January 20, up 40.2 per cent on-year.

Among this, newly registered capital surged by 24.2 per cent on-year to reach $2 billion. The number of newly registered projects was 190, up 56.6 per cent on-year.

Meanwhile, adjusted registered capital contracted 23.1 per cent on-year to $235.4 million. There were 75 adjusted registered projects, down 15.7 per cent on-year. The number of capital contribution and share purchase deals was 174, down 14,7 per from a year ealier. The total value of these deals reached over 116.5 million, down 33.1 per cent on-year.

Soaring FDI registration is attributed to the 24.2 per cent increase in new projects. There are many large-scale projects worth more than $600 million.

Investments were made across 15 out of 21 industries in the national economic classification system. The real estate business took the lead with an investment of $1.27 billion, accounting for 53.9 per cent of the total registered capital and doubling the figure of last year's period.

Processing and manufacturing ranked second, reaching over $926 million, representing 39.2 per cent of total registered capital. It was followed by professional, scientific, and technological activities as well as wholesale and retail with registered capital of $65.2 million and nearly $54.5 million, respectively.

About 40 countries and territories invested in Vietnam in January 2024. Among them, Singapore took the lead with over $1.4 billion, accounting for 59.5 per cent in Vietnam and up 72.8 per cent from a year earlier. Japan came in second with nearly $297 million, accounting for 12.6 per cent and increasing more than seven-times from a year ago.

Foreign investors made investments in 35 localities in January. It was led by Hanoi with a total registered capital of $867 million, representing 36.7 per cent of the total sum and 39.7 times higher than the same period in 2023. Ba Ria-Vung Tau province was close behind with $282 million, making up 11.9 per cent of the total registered capital.

Vietnam's appeal to foreign investors continued to improve last year, as did the quality of the foreign direct investment (FDI) the country attracted, according to a VinaCapital report that was released on January 9.

Numerous ventures worth hundreds of millions of USD are pouring into Vietnam, promising positive results in foreign investment mobilisation and contributing to economic growth for 2024.

Poland and Vietnam continue to enjoy a thriving trade and investment partnership in light of the EU-Vietnam Free Trade Agreement. Piotr Harasimowicz, chief representative officer at the Polish Investment and Trade Agency, discussed with VIR’s Thanh Van about the trends of Polish-Vietnam trade ties.