|Vietnam attracts nearly $25 billion in foreign investment by September 2024
According to statistics, from January to September this year, Vietnam attracted nearly 25 billion US dollars in foreign investment.
The latest data shows that as of the end of September, Vietnam has attracted over 24.78 billion US dollars in foreign investment, including new registrations, capital increases, and equity investments, an increase of 11.6% compared to the same period last year.
Among them, the foreign investment in equity decreased by more than 26%, but the newly registered and increased investment funds increased significantly, growing by more than 11.3% and 48% respectively. It is worth noting that in the first nine months, it is expected that the funds for foreign investment projects will exceed 17.3 billion US dollars, an increase of nearly 9% annually. The sustained strong growth of funds in place demonstrates the cohesion, stability, and sustainability of foreign investment.
According to the evaluation of the Ministry of Planning and Investment, foreign investment is mainly concentrated in provinces and cities with advantages in attracting foreign investment, such as Beining, Ho Chi Minh City, Guangning, Baditou Dun, Pingyang, Hanoi, Haiphong, Tongna, Beijiang, Ningshun, etc., where infrastructure is well-developed, human resources are stable, and administrative procedures are reformed. Just these 10 places accounted for over 80% of the country's new construction plans and nearly 73% of investment funds within 9 months.
It is worth noting that in the first nine months of this year, large-scale projects in the semiconductor and energy industries, such as batteries, photovoltaic cells, silicon rods, parts, electronic products, and high value-added products, received new investment and capital expansion.
Financial economist Ding Zhongsheng said that in terms of attracting foreign investment, the number he is most concerned about is the availability of funds. Every month, foreign capital inflows are increasing, exceeding $17 billion, the highest level in the past five years. This shows that foreign investors consider Vietnam as an investment paradise. Vietnam's advantage lies in its stable political and social environment, making it one of the fastest and strongest countries in regional integration. Vietnam has signed 19 free trade agreements (FTAs).
This expert also pointed out that foreign investment is not only a financial resource, but also a high-tech resource that needs to utilize the technology of foreign investors to promote faster and more sustainable growth in Vietnam. (End)
