According to the Foreign Investment Agency under the Ministry of Planning and Investment, in the first two months of this year, Vietnam drew more than 4.29 billion USD, up 38.6% year on year.

Production at the Powersports Manufacturing Inc. in Trang Bang IP, Dong Nai.

In the period, 405 new FDI projects were licenced, a rise of 55.2% over the same period last year, with a combined capital of nearly 3.6 billion USD, doubling the figure recorded in the same period last year.

A representative from the agency said that a surge in the number of projects with some large-scale ones is one of the major reasons behind the rise in FDI.

Minister of Planning and Investment Nguyen Chi Dung said that maintaining a stable investment environment and choosing potential investors is key to effectively attract foreign investment.

Nakajima Takeo, Chief Representative of Japan External Trade Organization (JETRO) in Vietnam, said that Vietnam is still one of the attractive and promising markets for Japanese firms.

He cited a JETRO survey showing that in the next 1-2 years, the rate of Japanese firms intending to expand business in Vietnam is 56.7%.

However, Minister Dung held that this year, Vietnam may face many challenges in FDI attraction, including those from the complicated and unpredicted world situation.

The application of the global minimum tax regulation is predicted to eliminate the role of traditional forms of incentives such as those in tax and land rent.

Prof. Dr. Nguyen Mai, Chairman of the Association of Foreign Invested Enterprises (VAFIE), held that Vietnam should design policies to draw FDI in prioritised areas such as high technology, innovation and energy.

Minister Dung said that in order to increase FDI attraction, Vietnam should continue adjusting policies to suit the global investment trend, speeding up administrative reform, and strengthening human resources training.

Vietnam attracts over 2.36 billion USD in FDI in first month of 2024

Vietnam had attracted more than 2.36 billion USD in foreign direct investment (FDI) as of January 20, an increase of 40.2% over the same period in 2023, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

A turning point in 35 years of FDI attraction in Vietnam

During the 35-year journey of foreign direct investment (FDI) attraction, Vietnam has continuously improved institutions and incentives to attract and better manage domestic and foreign investment resources. The expansion of economic diplomacy activities by the Party and Government in recent times has created more opportunities for Vietnam to attract high-quality capital flows into new industries.

Bac Giang provincial leader extends Tet wish to FDI enterprises

BAC GIANG - On January 26, the Vice Chairman of Bac Giang provincial People's Committee (PPC) Phan The Tuan and representatives of the Department of Foreign Affairs and the Provincial Industrial Park Management Board visited and extended New Year wish to a number of foreign direct investment businesses (FDI) in the province.

Vietnam should not miss opportunities to attract high-quality FDI

Amid numerous difficulties, Vietnam still recorded impressive results in attracting foreign direct investment (FDI) in 2023, with new pledges reaching 36.6 billion USD (up 32.1%) and disbursement hitting an all-time high of 23.18 billion USD.

FDI up over 32% in 2023

Total newly-registered foreign investment capital, adjusted and contributed capital to buy shares and buy contributed capital of foreign investors totalled 36.6 billion USD as of December 20, 2023, an increase of 32.1% compared to 2022.

Source: VNA