Vietnam sees 14.8% rise in FDI

By VNA November 27, 2023 | 08:09 pm PT

Cat Lai Terminal in Ho Chi Minh City. Photo by VnExpress/Thanh Nguyen

FDI pledges, which indicate the size of future foreign direct investment disbursements, rose 14.8% from a year earlier to $28.85 billion by Nov. 20.

FDI has been distributed across 56 provinces and cities in the first 11 months of 2023, according to the Foreign Investment Agency under the Ministry of Planning and Investment on Monday.

The northern province of Quang Ninh remains the biggest destination of FDI with nearly $3.11 billion, up 42.3% from the period last year. It is followed by Ho Chi Minh City with over $3.08 billion, Hai Phong city $2.8 billion, Bac Giang province $2.7 billion, and Hanoi $2.6 billion.

HCM City, accounting for 10.7% of the total FDI, takes the lead in the numbers of new projects (38%), those with additional capital (25.3%), and capital contributions to or purchases of shares at domestic companies (66.6%), statistics show.

As of November 20, there were 38,844 valid FDI projects worth almost $462.4 billion in total across Vietnam. Nearly $294.2 billion of the projects’ registered capital was disbursed, equivalent to 63.6%, according to FIA.