Brian Jeffrey
The total foreign investment in Vietnam has surpassed $18 billion in the first seven months of 2024, showing a 10.9% increase from the same period in 2023. Noteworthy is the entry of an investor from Kyrgyzstan, adding up to 147 countries and territories investing in Vietnam.
As reported by the Foreign Investment Agency, by July 20, 2024, Vietnam had attracted over $18 billion in registered foreign investment, with over $12.55 billion already disbursed, marking an 8.4% increase year-on-year.
In July 2024 alone, Vietnam saw over $2.8 billion in newly registered capital, contributing to 15.6% of the total investment for the seven-month period, ranking third following June and April 2024.
While the overall trend is positive, capital contributions and share purchases saw a decline, with new and additional investments on a rising trajectory.
For instance, in the first seven months of 2024, new investments amounted to over $10.76 billion, a 35.6% increase; additional capital reached nearly $4.97 billion, a 19.4% rise; whereas capital contributions and share purchases fell to $2.27 billion, marking a 45.2% decrease compared to the previous year.
Investments from foreign entities spanned across 18 out of the 21 national economic sectors, with the manufacturing and processing industry leading the pack with over $12.65 billion, making up 70.3% of the total registered capital, a 15.7% increase year-on-year. Real estate followed with over $2.87 billion, nearly 16% of the total investment, representing a 78% increase. The wholesale and retail sector received nearly $740.5 million in registered capital.
During the first seven months of 2024, 91 countries and territories engaged in investments in Vietnam. Singapore took the lead with almost $6.52 billion, accounting for 36.2% of the total investment, marking a 79.1% increase from 2023. Hong Kong followed with over $2.19 billion, comprising 12.2% of the total, more than double compared to the previous year. Countries like Japan, China, and South Korea were also among top investors.
One significant development in July 2024 was the participation of an investor from Kyrgyzstan, injecting $5 million in registered capital. This placed Kyrgyzstan 34th among the 91 investing countries and territories over the past seven months, and 83rd overall.
Geographically, foreign investors directed their investments across 48 provinces and cities in Vietnam. Bac Ninh led with nearly $3.2 billion, representing 17.8% of the total investment, triple compared to the previous year. Quang Ninh followed with over $1.56 billion, making up 8.7% of the total, more than doubling year-on-year. Ho Chi Minh City secured third place with nearly $1.55 billion, accounting for 8.6% of the total investment. Other prominent locations included Ba Ria – Vung Tau, Hanoi, and Hai Phong.
With the consistent growth in foreign direct investment, Vietnam maintains its appeal as an attractive investment destination for global investors, backed by a variety of sectors and a stable economic environment.
