FDI attraction up 38.6% in two months

Vietnam attracted 4.29 billion USD in foreign direct investment (FDI) in the first two months of 2024, a year-on-year surge of 38.6%.

Illustrative image (Photo: VNA)

Notably, several large-scale projects were granted investment registration certificates in February, such as Trina Solar Cell project in Thai Nguyen province and the Gokin Solar Hai Ha Vietnam project in Quang Ninh.

In the southern key economic region, a series of FDI projects were licensed in labour-intensive industries and those that use new and environmentally friendly technologies. Dong Nai topped the localities with 27 foreign-invested projects worth 439 million USD.

Vietnam's largest investment partners in the last two months remained traditional investors from Asia, including Singapore, Hong Kong (China), Japan, China, and the Republic of Korea (RoK), which accounted for 77% of new investment projects and nearly 85.5% of the total registered investment capital nationwide.

Meanwhile, although American investors registered 12 new investment projects in Vietnam, the total registered capital amounted to only 3.22 million USD. European investors have not yet boldly poured capital into Vietnam. The UK led European investors with a registered capital of 36.2 million USD in Vietnam.

Attracting FDI is a crucial goal for Vietnam in the coming years.

In addition to traditional partners in the region, insiders said Vietnam should focus on drawing more new and potential investors who have advanced technology, adding that diversifying investors will help Vietnam reduce overreliance on any single partner.

To improve the quality of FDI attraction, Vietnam needs to strongly improve the investment environment, and seek solutions to meet requirements from investors, especially those from European and American countries, insiders said./.

(Source:VNA)