Vietnam enjoys surge in FDI inflows in 2023

Illustrative image (Photo: VNA)

Vietnam attracted nearly 36.61 billion USD of foreign direct investment (FDI) this year to December 20, a rise of 32.1% year on year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Of the total, 20.19 billion USD was invested in 3,188 new projects, a year-on-year surge of 62.2% in capital and 56.6% in project number, the agency reported.

At the same time, over 7.88 billion USD was injected in 1,262 underway projects, down 22.1% over the same period last year.

Meanwhile, investment through capital contribution and share purchase deals hit over 8.5 billion USD, up 65.7% year on year despite a 3.2% decline in the number of transactions.

According to the agency, the major investment destinations in the country this year include Ho Chi Minh City, Hai Phong, Quang Ninh, Bac Giang, Hanoi, Bac Ninh, Binh Duong, and Dong Nai.

This year, foreign investors have invested in 18 out of 21 economic sectors, with processing-manufacturing receiving 23.5 billion USD or 64.2% of the total FDI capital (up 39.9% year on year), real estate nearly 4.67 billion USD (up 4.8%), power production and distribution 2.37 billion USD (up 4.9%), and finance-banking 1.56 billion USD (up nearly 27 times).

In 2023, 111 countries and territories have invested in Vietnam, led by Singapore with over 6.9 billion USD, accounting for 18.6% of total FDI inflows, a rise of 5.4% year on year. Japan ranked second with nearly 6.57 billion USD, while Hong Kong (China) came third with 4.68 billion USD.