Newly registered FDI surges 54% in 10 months

By VNA October 26, 2023 | 08:30 pm PT

Container trucks seen at Tan Vu Port in the northern city of Hai Phong. Photo by VnExpress/Giang Huy

Over $15.29 billion was channelled into 2,608 new foreign direct investment (FDI) projects as of October 20, respectively up 54% and 66.1% year on year, statistics showed.

It added up to more than $25.76 billion in total FDI during the period, rising 14.7%, reported the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment

Of the total, over $5.33 billion was added to 1,051 existing projects. Though the additional capital fell 39%, the project number still increased 19.4% from a year earlier, showing investors were confident in Vietnam’s investment climate so they decided to expand their projects.

Meanwhile, foreign investors spent over $5.13 billion on contributing capital to and purchasing shares of domestic companies via 2,836 transactions, respectively rising 35.4% and dropping 5.4%.

During the period, about $18 billion was disbursed for FDI projects, up 2.4% year on year, according to FIA.

The processing and manufacturing industry took the lead with nearly $18.84 billion, accounting for almost 73.1% of the total and rising 45.8% year on year. It was followed by real estate (nearly $2.14 billion, down 44.8%), finance - banking (nearly $1.54 billion, up 61.4-fold), and wholesale - retail (nearly $907 million, up 6.3%).

During the 10 months, 108 countries and territories poured money into Vietnam. Singapore topped the list with nearly $4.65 billion, making up over 18% of the total. It was followed by the South Korea and Hong Kong.

HCM City was the best performer in attracting new projects (38%), those with additional capital (25.3%), and capital contribution and share purchasing transactions (66.6%), FIA noted.