Singapore continues to lead the flow of investment capital into Vietnam

Hanoi leads the total investment capital

According to the Ministry of Planning and Investment, as of 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 8.87 billion USD (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 4.53 billion USD (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 USD 4.47 billion (up 62.8% over the same period).

Foreign investors have invested in 18 industries out of 21 national economic sectors. The processing and manufacturing industry leads with a total investment capital of nearly 13 billion USD, 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 1.76 billion USD, accounting for more than 9.7% of total registered investment capital, down 47.2% over the same period. Banking and finance, professional activities, science and technology ranked 3rd and 4th with a total registered capital of nearly 1.54 billion USD (nearly 63.7 times higher) and nearly 800 million USD (increased by 28.9%).

Regarding the number of new projects, manufacturing is also the leading industry (accounting for 31.2%) and adjusting capital (accounting for 56.5%). Meanwhile, wholesale and retail lead in the number of contribute capital to buy shares, and capital contribution purchase 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 2.34 billion USD, accounting for nearly 12.9% of the total. Registered investment capital increased 2.89 times over the same period in 2022. Hai Phong ranked second with a total registered investment capital of more than 2.08 billion USD, 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%). As of August 20, 2023, it is estimated that foreign investment projects have disbursed about USD 13.1 billion, up 1.3% over the same period in 2022, up 0.5% compared to 7 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

Continue to improve the general investment environment

In the first 8 months of 2023, 100 countries and territories invested in Vietnam. Notably, Singapore continues to lead with a total investment capital of more than 3.83 billion USD, accounting for more than 21.2% of total investment capital in Vietnam, down 15.4% over the same period in 2022. China ranked second with nearly 2.69 billion USD, accounting for 14.8% of total investment capital, an increase of 90.8% over the same period. Japan ranked third with a total registered investment capital of more than 2.58 billion USD, 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 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 contribute capital to buy shares, capital contribution purchase (accounting for 28.7%).

Assessing the investment capital flow from Singapore to Vietnam in recent times, Minister of Planning and Investment Nguyen Chi Dung said that after 50 years of establishing diplomatic relations and 10 years of establishing strategic partnerships, According to the strategy, the total import-export turnover between the two countries in 2022 will reach 9.1 billion USD, an increase of 9.6% compared to 2021. Singapore is one of the leading investors in Vietnam, with nearly 3,274 active projects with a total registered capital of nearly 73.5 billion USD. Vietnam - Singapore industrial parks (VSIP) symbolise economic cooperation between the two countries (using over 2,600 hectares of land, attracting 17 billion USD of investment capital, 880 domestic and foreign companies operating and creating more than 300 thousand workers).

"Since the Memorandum of Understanding on Green Economy - Digital Economy Partnership between Vietnam and Singapore was signed, the two sides have promoted activities aimed at sustainable development, green economy, and sustainable economy. In the coming time, Vietnam commits to continue improving the general investment environment, perfecting the legal system and foreign investment policies, and supporting Singapore's investment projects in Vietnam. In addition, Vietnam also proposed that Singapore develop and convert traditional VSIP zones into eco-industrial parks, expand and invest in key areas and priority groups of Vietnam such as chip manufacturing electronics, semiconductor materials, smart manufacturing, digital, large databases, high technology, new materials, renewable energy, supporting industries, e-commerce, smart cities... Regarding trade, the Vietnamese side continues to ask Singapore to consider expanding imports of Vietnamese agricultural products", Minister Nguyen Chi Dung added.