FDI inflow surges nearly 39% in two months

By VNA   February 28, 2024 | 02:25 am PT
FDI inflow surges nearly 39% in two months
The VSIP 2 Industrial Park in Tan Huyen District, Binh Duong Province. Photo by VnExpress/Quynh Tran
Vietnam has attracted more than US$4.29 billion in foreign direct investment in the first two months of 2024, up 38.6% year-on-year, according to the Foreign Trade Agency.

During the period, 405 new projects with total registered capital of US$3.6 billion were granted investment certificates, up 55.2% in volume and doubling the value recorded in the same time last year.

Meanwhile, 159 projects had their capital adjusted, with a total amount of $442.1 million, up 19.5% and down 17.4% year-on-year, respectively.

Capital contributions and share purchases fell 68% year-on-year to $255.4 million.

As much as $2.8 billion in FDI was disbursed in the two months, expanding 9.8% from the same time of 2023.

Hanoi, Quang Ninh, Thai Nguyen, Ba Ria – Vung Tau, Bac Ninh, Dong Nai, Bac Giang, Ho Chi Minh City, Hai Phong and Hung Yen topped the country in terms of FDI attraction, the Foreign Trade Agency said, elaborating the ten localities made up a lion share of 81.7% of the foreign capital in the period.

The capital city of Hanoi led all localities in FDI attraction with nearly $914.4 million , up 24.4 times against the same period in 2023.

Among 48 countries and territories with investment in Vietnam during the January-February period, Singapore was the biggest investor as it poured more than $2.08 billion into the country, followed by Hong Kong (China), Japan and China.

The investors injected capital into 16 out of 21 economic sectors, of which the processing and manufacturing industry took the lead with total investment of nearly $2.54 billion. It was followed by the realty sector ($1.41 billion), whole and retail sale ($125.2 million) and scientific and technological activities (nearly $76.4 million).

In the two-month period, the foreign-invested sector posted a trade surplus of more than $8.6 billion (excluding crude oil), helping compensate the domestic sector’s trade deficit of $4.63 billion.

As of February 2024, the country had 39,553 valid projects with total registered capital of $473.1 billion. Nearly $300 billion has been disbursed so far.

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