Which locality holds the "throne" in attracting FDI capital in 2023?
Implementing global minimum tax: An opportunity for Vietnam to attract high-quality FDI capital | |
Vietnam enjoys surge in FDI inflows in 2023 | |
New strategies for attracting quality FDI to Việt Nam |
According to the Foreign Investment Bureau (Ministry of Planning and Investment), as of December 20, 2023, total foreign investment capital registered in Vietnam reached nearly US$ 36.61 billion, an increase of 32.1% compared to the same period. Along with that, realized capital of foreign investment projects is estimated to reach about US$ 23.18 billion, an increase of 3.5% compared to 2022. It has also ever been a record disbursement level.
2023 also recorded 1,262 projects registering to adjust investment capital (up 14% over the same period) with a total additional investment capital of more than US$ 7.88 billion (down 22.1% over the same period).
Meanwhile, investment capital through capital contribution for purchasing share reached more than US$ 8.5 billion, an increase of 65.7% over the same period. Thanks to the increased scale of capital contribution, although the number of capital contribution and share purchase transactions in 2023 only reached 3,451 transactions, down 3.2% over the same period, the amount of capital contribution increased. Of the total registered capital of more than US$ 36.6 billion, the newly registered capital reached nearly US$ 20.19 billion, an increase of 62.2% over the same period. The number of newly registered projects also reached 3,188 projects, an increase of 56.6%. Thus, both new projects and newly registered capital increased sharply.
In 2023, FDI capital flowed into 18 sectors of 21 national economic sectors. Of which, the processing and manufacturing industry was still the leading sector with a total investment capital of more than US$ 23.5 billion, accounting for 64.2% of total registered investment capital and an increase of 39.9% over the same period.
The real estate business ranked second with a total investment capital of nearly US$ 4.67 billion, accounting for more than 12.7% of total registered investment capital, an increase of 4.8% over the same period. Electricity production and distribution industry; Finance and banking industry ranked 3rd and 4th respectively with total registered capital of US$ 2.37 billion (up 4.9%) and nearly US$ 1.56 billion (nearly 27 times).
In terms of partners, Singapore was the leading country among 111 countries and territories investing in Vietnam with a total investment capital of more than US$ 6.8 billion, accounting for 18.6% of total investment capital in Vietnam. The amount of investment capital from this country increased by 5.4% over the same period in 2022.
Japan ranked second with nearly US$ 6.57 billion, accounting for more than 17.9% of total investment capital, up 37.3% over the same period. Next were the markets of Hong Kong, China, Korea, Taiwan... In terms of number of projects, China led in the number of new projects (accounting for 22.2%). Korea led in the number of capital adjustments (accounting for 25.9%) and capital contributions and share purchases (accounting for 27.8%).
If calculated by location, the Foreign Investment Bureau said that foreign investment capital continued to focus heavily on provinces and cities that had many advantages in attracting investment (good infrastructure, stability of human resources, efforts on reforming administrative procedures and dynamism in investment promotion...) such as: Ho Chi Minh City, Hai Phong, Quang Ninh, Bac Giang, Thai Binh, Hanoi, Bac Ninh, Nghe An, Binh Duong, Dong Nai. These 10 localities alone accounted for 78.6% of new projects and 74.4% of the country's capital in 2023.
Ho Chi Minh City is an attractive destination for FDI investors. Photo TL |
In 2023, the economic "motive force" Ho Chi Minh City became the locality attracting the most foreign investment with a total registered investment capital of more than US$5.85 billion. This number accounted for nearly 16% of the total registered investment capital, an increase of 48.5% over the same period in 2022. However, Ho Chi Minh City's investment capital was mainly in the form of capital contribution and share purchase. This form of investment accounted for nearly 73.3% of Ho Chi Minh City's total investment capital in 2023.
Meanwhile, Hai Phong ranked second with a total registered investment capital of more than US$ 3.26 billion, accounting for 8.9% of the total investment capital of the country, an increase of 66.2% over the same period. Next are Quang Ninh, Bac Giang, Thai Binh…
For the whole year 2023, Hanoi attracted US$ 2,943 million of FDI capital, of which, 408 new projects were registered with a capital of US$ 441 million. In December 2023 alone, Hanoi City attracted US$ 255.5 million of FDI capital, of which, 27 newly licensed projects with a total registered capital of US$ 81.9 million; 18 projects were adjusted to increase investment capital with an additional registered capital of US$ 37 million; foreign investors contributed capital and purchased shares 24 times, reaching US$ 136.6 million.
Assessing the situation of attracting foreign investment into Vietnam in 2023, the Foreign Investment Bureau said that the increase in disbursed capital over the same period showed the companionship of the Government and the Prime Minister; close coordination with ministries, branches and localities in proactively approaching, grasping and removing bottlenecks and legal barriers that were hindering investment and business activities of enterprises.
Meanwhile, the sharp increase in newly registered capital continued to show that Vietnam was a safe and attractive destination. From another perspective, although adjusted investment capital still decreased over the same period, the reduction level has improved. This shows investors' confidence in long-term business prospects in Vietnam.
Vietnam's investment abroad in 2023 have 124 projects granted newly investment certificates with a total Vietnamese capital of US$ 282.7 million, down 33.7% over the same period last year; There were 25 projects adjusted capital with the adjusted capital increasing by US$ 138.2 million, 1.3 times higher. In general, Vietnam's total investment capital abroad (new and adjusted capital) reached US$ 420.9 million, down 21.2% over the same period last year. |
Related News
State revenue collection poised to surpass annual target
10:11 | 12/11/2024 Finance
Public investment spending up 1.8% in first 10 months of 2024
10:03 | 08/11/2024 Finance
Continue to handle cross-ownership in banks
10:35 | 02/11/2024 Finance
"One law amending four laws" on investment to decentralize and ease business challenges
16:44 | 01/11/2024 Regulations
Latest News
UK stands ready to boost Việt Nam's international financial hub
13:57 | 13/11/2024 Import-Export
Việt Nam lifts anti-dumping duties on imported cold-rolled stainless steel
13:54 | 13/11/2024 Import-Export
Businesses full of orders, creating driver for stronger export growth
13:53 | 13/11/2024 Import-Export
Export-import turnover in October reaches US$69.19 billion
08:37 | 13/11/2024 Import-Export
More News
CEPA Agreement opens the way to the Middle East - Africa market
08:35 | 13/11/2024 Import-Export
Ample opportunity for Vietnam - Peru trade to increase to meet potential
14:11 | 12/11/2024 Import-Export
Vietnam aims to increase market share in Africa
14:09 | 12/11/2024 Import-Export
Beware of the "invasion" of unofficial e-commerce platforms
10:12 | 12/11/2024 Import-Export
Seafood exports expected to break through in the last months of the year
15:42 | 11/11/2024 Import-Export
Vietnam’s aquatic exports on track to top 10 billion USD
15:40 | 11/11/2024 Import-Export
Vietnamese, Chinese firms ink deals to bolster trade
15:38 | 11/11/2024 Import-Export
Chemical companies go green to compete effectively
08:55 | 11/11/2024 Import-Export
To open the door for industrial processing and manufacturing products to demanding markets
08:54 | 11/11/2024 Import-Export
Your care
UK stands ready to boost Việt Nam's international financial hub
13:57 | 13/11/2024 Import-Export
Việt Nam lifts anti-dumping duties on imported cold-rolled stainless steel
13:54 | 13/11/2024 Import-Export
Businesses full of orders, creating driver for stronger export growth
13:53 | 13/11/2024 Import-Export
Export-import turnover in October reaches US$69.19 billion
08:37 | 13/11/2024 Import-Export
CEPA Agreement opens the way to the Middle East - Africa market
08:35 | 13/11/2024 Import-Export