Singapore continues to lead investment capital flows into Vietnam

Hanoi leads the total of investment capital

According to the Ministry of Planning and Investment, by August 20, 2023, there have been 1,924 new projects granted investment registration certificates (IRCs) (up 69.5% over the same period), the total registered capital signed more than the US $ 8.87 billion (up 39.7% over the same period); There were 830 times of projects registered to adjust investment capital (up 22.8% over the same period), total additional investment capital reached more than US $ 4.53 billion (down 39.7% over the same period); 2,268 joint stock brokerage transactions of foreign investors (down 6.5% over the same period), the total value of contributed capital reached more than US $ 4.47 billion (up 62.8% over the same period).

Foreign investors have invested in 18 sectors out of 21 national economic sectors. The processing and manufacturing industry leads with a total investment capital of nearly US $ 13 billion, accounting for nearly 67.8% of total registered investment capital and an increase of 14.7% over the same period. The real estate business ranked second with a total investment capital of more than US $1.76 billion, accounting for more than 9.7% of total registered investment capital, down 47.2% over the same period. The banking and finance sector, professional activities, science and technology ranked 3rd and 4th with a total registered capital of nearly US $ 1.54 billion (nearly 63.7 times higher) and nearly US $800 million (increased), respectively. 28.9%).

Regarding the number of new projects, manufacturing is the leading industry (accounting for 31.2%) and adjusting capital (accounting for 56.5%). Meanwhile, wholesale and retail lead in the number of GVMCP transactions (accounting for 42.4%).

Foreign investors have invested in 54 provinces and cities across the country in the first eight months of 2023, in which Hanoi leads the way with a total registered investment capital of more than US $2.34 billion, accounting for nearly 12.9% of the total registered investment capital and increased 2.89 times over the same period in 2022. Hai Phong ranked second with a total registered investment capital of more than US $2.08 billion, accounting for nearly 11.5% of the total investment capital of the whole country, up 72.2% over the same period. Next are Ho Chi Minh City, Bac Giang, and Binh Duong, respectively.

In terms of the number of projects, Ho Chi Minh City is the leading locality in the country in terms of the number of new projects (39.6%), number of adjusted projects (23.4%) and GVMCP (67%). By August 20, 2023, it is estimated that foreign investment projects have disbursed about US $13.1 billion, up 1.3% over the same period in 2022, up 0.5% compared to seven months of 2023.

Regarding the number of new projects, the manufacturing industry is also the leading industry in the number of new projects (accounting for 31.2%) and capital adjustment (accounting for 56.5%). Photo TL

Continuing to improve the overall investment environment

In the first eight months of 2023, one hundred countries and territories have invested in Vietnam. Notably, Singapore continues to lead with a total investment capital of more than US $3.83 billion, accounting for more than 21.2% of total investment capital in Vietnam, down 15.4% over the same period in 2022. The country ranked second with nearly US $ 2.69 billion, accounting for 14.8% of total investment capital, up 90.8% over the same period. Japan ranked third with a total registered investment capital of more than US $2.58 billion, accounting for more than 14.2% of total investment capital, an increase of 73.1% over the same period... In terms of number of projects, China is the leading country in the number of new projects (accounting for 20.7%), while Korea is leading in the number of capital adjustments (accounting for 27.6%) and GVMCP (accounting for 28.7%).

Assessing the investment capital flow from Singapore to Vietnam in recent times, Mr Nguyen Chi Dung, Minister of Planning and Investment, said that after fifty years of establishing diplomatic relations and ten years of establishing strategic partnerships, the total import-export turnover between the two countries in 2022 will reach US $9.1 billion, an increase of 9.6% compared to 2021. Singapore is one of the leading investors in Vietnam, with nearly 3,274 active projects and a total registered capital of nearly US $73.5 billion. The Vietnam - Singapore Industrial Parks (VSIP) symbolises economic cooperation between the two countries (using over 2,600 hectares of land, attracting US $17 billion in investment capital, 880 domestic and foreign companies operating. and creating more than 300 thousand workers).

"Since the Memorandum of Understanding on the Green Economy - Digital Economy Partnership between Vietnam and Singapore was signed, the two sides have stepped up activities towards sustainable development, green and sustainable economy. In the coming time, Vietnam is committed to improving the general investment environment, perfecting the legal system and foreign investment policies, and supporting Singapore's investment projects in Vietnam.

In addition, Vietnam proposed that Singapore develop and convert traditional VSIP zones into eco-industrial parks, expanding and investing in key fields and priority groups of Vietnam such as chip-making electronics, semiconductor materials, smart manufacturing, digital, extensive database, high technology, new materials, renewable energy, supporting industries, e-commerce, smart cities... Regarding trade, the Vietnamese side continued to ask Singapore to consider expanding the import of Vietnamese agricultural products", Minister Nguyen Chi Dung added.