Vietnam"s foreign investment plunges 39% in Q1
A factory in Dong Nai province's Giang Dien Industrial Zone. (Photo: VNA)
Vietnam attracted nearly 5.45 billion USD worth of foreign investment in the first quarter of the year, down 39% year-on-year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
Of the three-month figure, over 3 billion USD came from 522 newly-licensed projects, up 62% in a number of projects but down 6% in the amount of capital compared to the same period last year.
Some 1.2 billion USD was added to 228 existing ones, representing a yearly hike of 3% in a number of projects and a yearly decline of 70.3% in the capital.
However, foreign investors' capital contribution and share purchases rose 4% year-on-year to 798 million USD, the FIA said.
Along with the contraction in fresh capital, the disbursed capital also slightly plunged 2.2% from a year earlier to 4.3 billion USD, it noted.
The most significant proportion of the period's foreign investment, 4 billion USD or 73%, landed in processing and manufacturing, followed by real estate, with 766 million USD or 14.1%.
In Q1, Singapore topped foreign investors, pouring 1.69 billion USD into Vietnam or equivalent to 31% of the nation's total foreign investment. It was followed by mainland China (552 million USD) and Taiwan (477 million USD).
According to the FIA, newly foreign-invested projects still came towards localities that had many advantages in attracting foreign investment such as good infrastructure, stable human resources, efforts to reform administrative procedures and dynamism in investment promotion. They included Bac Giang, Dong Nai, Bac Ninh, HCM City and Hai Phong.
For example, Dong Nai province lured 500 million USD in foreign investment in the first three months, nearly tripling that in the same period last year, the provincial industrial parks management board has said.
Of the figure, there were 11 new projects with a total registered capital of nearly 50 million USD and 22 others with additional capital of more than 451 million USD, mainly from Japan, the Republic of Korea and Taiwan (China). All of them utilise advanced technology and skilled labour in priority investment sectors. Among the 11 new foreign-invested projects, six were in supporting industry.
Deputy head of the board Pham Van Cuong said over recent months, foreign investment attraction in Dong Nai has thrived with increasing quantity and quality of projects which involve the construction of new factories and manufacturing expansion.
Foreign investors pin high hope on projects underway in the province, especially Long Thanh airport and expressways. He said the province has also stepped up administrative reform and dealt with investor concerns.
According to the approved plan, Dong Nai has 40 industrial parks (IPs) with an area of about 19,000ha. The province is now home to 32 IPs already in operation, with an occupancy rate of over 85%. The remaining IPs are yet to be built due to obstacles regarding investment procedures, rubber and forest land processing, auction and bidding, and zone planning.
Cuong said the province hoped that the Government, ministries and agencies would tackle bottlenecks and create favourable conditions for it to establish new IPs, thus attracting more capital from big corporations and businesses world-wide./.
Related News

Vietnam kicked off the year with a strong start in trade, exceeding US$63 billion in the first month
16:30 | 15/02/2025 Import-Export

Vietnam, Korea Customs sign AEO MRA
11:07 | 26/12/2024 Customs

Prioritizing semiconductor workforce training
09:16 | 15/12/2024 Headlines

Vietnam-Cambodia: Looking back on journey of cooperation
14:45 | 11/12/2024 Customs
Latest News

Embracing green exports: a pathway to enter global supply chains
10:33 | 20/02/2025 Import-Export

New policy proposed to prevent transfer pricing, tax evasion of FDI enterprises
10:32 | 20/02/2025 Import-Export

Việt Nam’s durian exports to China plummet by 80%
16:18 | 19/02/2025 Import-Export

Coconut exports reach 14-year high
15:29 | 18/02/2025 Import-Export
More News

Shrimp exports grow in the first month of 2025
15:28 | 18/02/2025 Import-Export

Rice export prices drop, but decline expected to be short-term
08:10 | 17/02/2025 Import-Export

Key agro products expected to maintain export growth this year
08:08 | 17/02/2025 Import-Export

EU issues 12 warnings against Việt Nam’s food and agricultural exports
08:07 | 17/02/2025 Import-Export

Việt Nam to impose VAT on low-value express-imported goods
08:06 | 17/02/2025 Import-Export

Exchange rate risks need attention in near future
16:31 | 15/02/2025 Import-Export

Import and export turnover reaches about US$29 billion in the second half of January 2025
14:52 | 14/02/2025 Import-Export

Market edges up slightly as liquidity remains low
14:48 | 14/02/2025 Import-Export

Business regulations must be trimmed for development of enterprises: Experts
14:46 | 14/02/2025 Import-Export
Your care
The system has not recorded your reading habits.
Please Login/Register so that the system can provide articles according to your reading needs.

Embracing green exports: a pathway to enter global supply chains
10:33 | 20/02/2025 Import-Export

New policy proposed to prevent transfer pricing, tax evasion of FDI enterprises
10:32 | 20/02/2025 Import-Export

Việt Nam’s durian exports to China plummet by 80%
16:18 | 19/02/2025 Import-Export

Coconut exports reach 14-year high
15:29 | 18/02/2025 Import-Export

Shrimp exports grow in the first month of 2025
15:28 | 18/02/2025 Import-Export