Vietnam Saw 4,2% Rise in FDI Attraction in First Month of 2022
According to figures reported by the Ministry of Planning and Investment, as of Jan. 20, Vietnam registered 103 new FDI projects with total investment capital of US$388 million, a 2.2-fold rise in project quantity compared to January of last year.
In contrast, a drop of over 70% in registered capital was recorded, which the MPI attributed to a lack of large-scale FDI projects in this period.
Capital contributions and share purchases made by foreign investors stood at US$443,5 million, doubling that of last year in the same period, VOV reported.
At the same time, despite a slight decline in registered capital compared to last year due to the lack of large-scale FDI projects. The number of new investment projects were sharply increased, a sign of optimism by foreign investors in the national investment sphere.
An expected total of US$1.61 billion is to be reached within January in FDI attraction, a 6.8% increase compared to the same period of 2021. This surge could be put down to the stability and expansion of FDI firms in recovery from the Covid-19 pandemic since 2021, the Foreign Investment Agency said.
Singapore led in investment into the Vietnamese market out of 33 countries and territories, with total capital of US$666 million, accounting for 31.7% of total investment. Korea, with a five-fold rise compared to last year, came in second with US$481 million, making up 22.9% of the total FDI share; China invested a total of US$451 million, coming in third.
Furthermore, 15 of the nation's 21 economic sectors received funding from foreign investors, with the processing and manufacturing industry taking lead at US$1.2 billion in investment, in proportion to 58.9% of total registered investment capital.
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