Vietnam diversifies investment attraction

(VEN) - While the global economy is falling into a recession and many countries are facing high inflation and negative growth, Vietnam has maintained positive economic growth which enables it to attract foreign direct investment (FDI) in a wide range of fields.

Attractive destination

According to the Ministry of Planning and Investment, by August 20, 2022, more than 35,500 FDI projects remained valid in Vietnam with total registered capital of over US$430 billion. Their implemented capital reached US$264.4 billion, equivalent to 61.5 percent of total registered capital.

vietnam diversifies investment attraction
Policy changes have created favorable conditions for FDI firms

In the first nine months of 2022, 94 countries and territories invested nearly US$18.8 billion in Vietnam. Of the sum, US$15.43 billion (82.3 percent) has been disbursed, a year-on-year increase of 16.3 percent. This was the highest nine-month implemented FDI amount during the past five years.

According to survey results by the Japan External Trade Organization (JETRO), 55 percent of Japanese companies in Vietnam plan to expand their operations, the highest rate in the ASEAN bloc. Many Japanese companies have moved their manufacturing facilities from China and other ASEAN countries to Vietnam.

JETRO also surveyed more than 1,700 parent companies of Japanese firms and found that Vietnam ranks second among their destinations for expanded operations (behind only the US).

Takeo Nakajima, Chief Representative of JETRO in Hanoi, said FDI firms appreciate Vietnam’s investment environment and intend to develop new projects there.

FDI attraction efforts

During the two years of COVID-19, the Vietnamese Government helped foreign-invested firms to maintain production and trade, ensure employment and income for workers, and prevented supply chain disruptions. These efforts contributed to the implementation of the government’s dual goals of combating the pandemic and promoting economic recovery and development.

vietnam diversifies investment attraction
Vietnam is improving its infrastructure to receive investment shifts from other countries

Business associations of the Republic of Korea, the US, Japan and Singapore and multinational groups praised the Vietnamese government for policy changes that have created favorable conditions for FDI firms. However, they expect further improvements of the investment environment, especially policies and mechanisms in each specific field such as electricity, energy, capital, labor, transport infrastructure, land, and tax.

Foreign investors also expect a more liberal visa policy to promote tourism development.

To attract more FDI, Vietnam is making efforts to improve worker skills to meet the requirements of high-technology projects, and prepare sufficient space for production as well as infrastructure and energy to receive investment shifts from other countries to Vietnam. Digital technology and online services are under constant development to support investors.

Vietnam also plans to enhance incentives to attract high-quality projects of international groups and further simplify administrative procedures. Domestic companies are being urged to improve their manufacturing capacity to become suppliers for FDI firms.

Ngoc Thao

See also

Screening tools to enhance FDI quality

Screening tools to enhance FDI quality

(VEN) - A set of foreign direct investment (FDI) screening tools was launched recently as a result of cooperation between the Vietnam Chamber of Commerce and Industry (VCCI) and the United Nations Development Program (UNDP), promising enhanced effectiveness of foreign investment flows into Vietnam.
Hai Phong pledges optimal conditions for investors

Hai Phong pledges optimal conditions for investors

Hai Phong will always accompany with and create optimal conditions for investors, vowed Nguyen Trung Kien, head of the Economic Zone Management Board of the northern port city, during a meeting with foreign-invested businesses in the city on January 31.
Greening foreign investment

Greening foreign investment

(VEN) - The government’s declared commitment to reduce net carbon emissions to zero by 2050 has prompted a wave of high-quality, sustainable foreign direct investment (FDI) projects.
Southeast region prepares for new FDI wave

Southeast region prepares for new FDI wave

The southeast region is preparing necessary conditions in infrastructure, administrative procedures and human resources to welcome a new wave of foreign direct investment (FDI), as investors have flocked to the region right from the beginning of this year.
January FDI nears US$1.7 billion

January FDI nears US$1.7 billion

Vietnam attracted foreign direct investment (FDI) worth US$1.69 billion as of January 20 this year, down 19.8 percent annually, according to the General Statistics Office (GSO).
Hong Kong pioneers a sustainable future for an

Hong Kong pioneers a sustainable future for an 'Asian century'

Hong Kong wants to grasp green financing and sustainable investment opportunities across Asia. Dr. Patrick Lau, deputy executive director of the Hong Kong Trade Development Council (HKTDC), spoke with VIR’s Luu Huong about how Hong Kong could make progress in the new era.

See more news

Viet Nam calls for more investment in green growth

Viet Nam calls for more investment in green growth

Deputy Prime Minister Tran Hong Ha called on foreign businesses to boost investment, support Viet Nam in green growth, and well implement international commitments on sustainable development and climate change, including UNCOP26 commitments to achieving net-zero emissions by 2050.
Hanoi attracts nearly US$1.7 billion in FDI in 2022

Hanoi attracts nearly US$1.7 billion in FDI in 2022

Hanoi attracted US$1.69 billion in foreign direct investment (FDI) last year, still among the localities leading the nation in this field.
FDI disbursement exceeds US$20 billion

FDI disbursement exceeds US$20 billion

(VEN) - Foreign direct investment (FDI) disbursement reached more than US$20 billion in 2022 - the highest level in five years, aiding post-pandemic recovery.
Screening proposed for improved foreign investment

Screening proposed for improved foreign investment

(VEN) - Foreign direct investment (FDI) has contributed significantly to the Vietnamese economy since the Law on Foreign Investment in Vietnam was promulgated in 1987. However, Vietnam is mulling effective screening tools to enhance FDI quality.
Wanted: Foreign investors for Nghe An

Wanted: Foreign investors for Nghe An

(VEN) - The north-central Vietnamese province of Nghe An is creating favorable conditions to attract investment especially foreign direct investment (FDI) in industrial development in order to fulfill its targets.
Foreign investment continues to spike

Foreign investment continues to spike

(VEN) - In the first 10 months of 2022, foreign direct investment (FDI) flows into Vietnam continued growing, reflecting foreign investor trust in the Vietnamese economy and investment environment.
RoK investors eye expanded Vietnam presence

RoK investors eye expanded Vietnam presence

(VEN) - According to the Ministry of Planning and Investment, the Republic of Korea (RoK) remained Vietnam’s second largest foreign investor with 9,400 projects and accumulated registered capital of US$80.5 billion as of the end of September 2022. In the first nine months of this year, the RoK ranked 2nd among 97 countries and territories having investment projects in Vietnam with 290 projects and total registered capital of more than US$3.8 billion.
Hanoi, a leading FDI attractor

Hanoi, a leading FDI attractor

(VEN) - The development of a network of industrial parks and clusters as well as efforts to accommodate investors have maintained Hanoi’s top standing in attracting foreign direct investment (FDI).
Vietnam draws increased foreign investment

Vietnam draws increased foreign investment

(VEN) - Vietnam has become an increasingly attractive destination for foreign investors amid unpredictable fluctuations in the global economy.
Transparency needed to attract Fortune-500 firms

Transparency needed to attract Fortune-500 firms

(VEN) - Vietnam is fully capable of attracting the largest Fortune-500 corporations if the country exploits its potential and makes good use of opportunities. Nguyen Van Toan, deputy chairman of Vietnam’s Association of Foreign-Invested Enterprises, talked about the issue with Vietnam Economic News’ Nguyen Hoa.
View more
Latest Most Read
Vietnam-Singapore strategic partnership

Vietnam-Singapore strategic partnership

Vietnam and Singapore share excellent bilateral relations, underpinned by the Strategic Partnership Agreement concluded in September 2013 during Prime Minister Lee Hsien Loong’s official visit to Vietnam.
Vietnamese companies seeking opportunities in India’s plastic market

Vietnamese companies seeking opportunities in India’s plastic market

Vietnamese companies together with about 1,800 ones from 79 countries around the world are participating in the 11th edition of the world’s largest International Plastics Exhibition, Conference, and Convention - PLASTINDIA 2023 that is taking place at Pragati Maidan, New Delhi from February 1-5.
Vietnamese Prime Minister starts official visit to Singapore

Vietnamese Prime Minister starts official visit to Singapore

Prime Minister Pham Minh Chinh, his spouse, and a high-ranking Vietnamese delegation arrived in Changi Airport on February 8 afternoon, starting a three-day official visit to Singapore.
Black rice cakes reach foreign markets

Black rice cakes reach foreign markets

(VEN) - Black sesame rice cakes have long been a favorite in Nghe An Province’s Do Luong District. The Luong Son Food Production and Trading Co. Ltd. decided to share this delicacy with other regions of the country and with other countries.
Despite decelerating, phone exports still have long-term prospects

Despite decelerating, phone exports still have long-term prospects

Phones and components achieved an export turnover of US$57.9 billion last year, a year-on-year increase of only 0.8 per cent.
vietnam singapore strategic partnership

Vietnam-Singapore strategic partnership

Vietnam and Singapore share excellent bilateral relations, underpinned by the Strategic Partnership Agreement concluded in September 2013 during Prime Minister Lee Hsien Loong’s official visit to Vietnam.
foreign visitors to vietnam surge 442 times

Foreign visitors to Vietnam surge 44.2 times

Vietnam welcomed 872,000 foreign visitors in January, up 44.2 times against the same time last year, according to the General Statistics Office.
the woman who revived kim hoang folk paintings

The woman who revived Kim Hoang folk paintings

(VEN) - Researcher and art collector Nguyen Thi Thu Hoa has made intense efforts to revive the 18th century Kim Hoang woodcut folk painting genre, which had all but disappeared over time.
ninh binh listed among worlds top 10 most welcoming regions

Ninh Binh listed among world's top 10 most welcoming regions

Ninh Bình has been ranked seventh in the Most Welcoming Regions On Earth, a category of the Traveller Review Awards 2023, by the leading digital hotel booking service that covers more than 220 countries and territories.
artists co nghiep set guinness world record in last intl show

Artists Cơ, Nghiệp set Guinness World Record in last int'l show

Vietnamese acrobatic artists Giang Quốc Cơ and Giang Quốc Nghiệp has set up a world record in their last international performance in a Guinness World Record show in Milan, Italy.
Screening tools to enhance FDI quality

Screening tools to enhance FDI quality

(VEN) - A set of foreign direct investment (FDI) screening tools was launched recently as a result of cooperation between the Vietnam Chamber of Commerce and Industry (VCCI) and the United Nations Development Program (UNDP), promising enhanced effectiveness of foreign investment flows into Vietnam.
Prime Minister demands faster disbursement of public investment capital

Prime Minister demands faster disbursement of public investment capital

Prime Minister Pham Minh Chinh demanded faster pace of public investment capital disbursement while chairing the Cabinet meeting on Thursday.
Deputy FM highlights role of economic diplomacy in service of national development

Deputy FM highlights role of economic diplomacy in service of national development

The Ministry of Foreign Affairs has accompanied the Ministry of Planning and Investment and agencies to attract high-quality investment, connect and support foreign enterprises to invest and expand operations in Việt Nam, as well as to strengthen exchange and cooperation with investment funds and study international investment trends.
Việt Nam supports expansion of UN Security Council

Việt Nam supports expansion of UN Security Council

Addressing the first meeting of the Intergovernmental Negotiations on Security Council reform at the 77th UN General Assembly on January 26 (local time) in New York, Ambassador Nguyễn Phương Trà also emphasised improving the working method of the UNSC and limiting the use of veto power.
Black rice cakes reach foreign markets

Black rice cakes reach foreign markets

(VEN) - Black sesame rice cakes have long been a favorite in Nghe An Province’s Do Luong District. The Luong Son Food Production and Trading Co. Ltd. decided to share this delicacy with other regions of the country and with other countries.
Industrial production: Achievements and lessons

Industrial production: Achievements and lessons

(VEN) - The 2022 industrial output has been impressive, but continued innovation as well as production and supply network recovery are vital to ensure a more sustainable path in 2023.
Food and beverage industry to do well this year despite modest economy

Food and beverage industry to do well this year despite modest economy

The food and beverage market is forecast to grow by over 18% this year to 720 trillion VND (30.7 billion USD).
Moving ahead with 2023’s Global Priorities: Electrification and Decarbonization

Moving ahead with 2023’s Global Priorities: Electrification and Decarbonization

In 2023, the United Arab Emirates is taking center stage in the global efforts to address climate change and sustainability. Recently, leaders have gathered for Abu Dhabi Sustainability Week, kicking off a year of events leading up to the UAE-hosted COP28 at the end of the year.
Vietnamese companies seeking opportunities in India’s plastic market

Vietnamese companies seeking opportunities in India’s plastic market

Vietnamese companies together with about 1,800 ones from 79 countries around the world are participating in the 11th edition of the world’s largest International Plastics Exhibition, Conference, and Convention - PLASTINDIA 2023 that is taking place at Pragati Maidan, New Delhi from February 1-5.
Hanoi, HCM City record highest disbursement of public investment capital in January

Hanoi, HCM City record highest disbursement of public investment capital in January

Hanoi and Ho Chi Minh City - the country's economic locomotives - recorded the highest disbursement of public investment capital in January, with nearly 2.7 trillion VND (117 million USD) and more than 1.63 trillion VND, respectively, reported the General Statistics Office.
Hai Phong pledges optimal conditions for investors

Hai Phong pledges optimal conditions for investors

Hai Phong will always accompany with and create optimal conditions for investors, vowed Nguyen Trung Kien, head of the Economic Zone Management Board of the northern port city, during a meeting with foreign-invested businesses in the city on January 31.
Greening foreign investment

Greening foreign investment

(VEN) - The government’s declared commitment to reduce net carbon emissions to zero by 2050 has prompted a wave of high-quality, sustainable foreign direct investment (FDI) projects.
Banks lower saving interest rates right after Tet

Banks lower saving interest rates right after Tet

The race of interest rate hikes among commercial banks is showing signs of cooling down as many banks have adjusted down the rate by several percentage points per year after the Lunar New Year (Tet) holiday and have set stricter conditions for customers to enjoy the high rates.
Foreign investors remain optimistic about Vietnamese stock market

Foreign investors remain optimistic about Vietnamese stock market

From being net sellers in the first nine months of 2022, foreign investors have become the driving force supporting the Vietnamese stock market in the last few months, and the inflows are expected to continue this year.
Tax revenue up 4.4 percent year-on-year in January

Tax revenue up 4.4 percent year-on-year in January

Tax revenue in January was estimated at VND165.7 trillion (US$7.06 billion), or 12.1 percent of the ordinance estimate, up 4.4 percent year-on-year, the General Department of Taxation reported on January 31.
State-owned banks under capital increase pressure

State-owned banks under capital increase pressure

Vietnam’s four biggest State-owned banks have an urgent need for capital increase in 2023 as their charter capital is too low, with some unable to ensure the regulated minimum capital adequacy ratio (CAR), according to industry insiders.
Vietnam looks ahead to 2023 climate summit

Vietnam looks ahead to 2023 climate summit

(VEN) - World leaders are hoping the COP28 Climate Change Summit, scheduled for November 30 to December 12, 2023, in the UAE will achieve expectations not met at the COP27 summit held in Egypt in November 2022.
Preserving nature, facilitating business

Preserving nature, facilitating business

(VEN) - In the past few years, the natural resources and environment sector of Hung Yen Province has advised authorities on state management of natural resources and the environment, contributing to provincial economic growth, industrialization and modernization.
AkzoNobel Vietnam protects Cu Lao Xanh lighthouse against harsh weather

AkzoNobel Vietnam protects Cu Lao Xanh lighthouse against harsh weather

AkzoNobel, a leading global paints and coatings company and the major producer of Dulux brand, has completed repainting the Cu Lao Xanh Lighthouse project with Dulux Weathershield®. It is the third lighthouse in Vietnam recoated under the “Lighthouse Protection Campaign” of AkzoNobel.
JTI Vietnam commits to net zero greenhouse gas emissions

JTI Vietnam commits to net zero greenhouse gas emissions

Climate change is the most urgent issue of our time, and to limit its impact on life on earth, the rise in mean global temperature should not exceed 1.5°C above pre-industrial levels. The private sector plays a huge role in helping to achieve this goal, and companies must commit and take concrete action in accordance with the Paris Agreement.
Science, technology, innovation to contribute over 50 percent to agricultural growth by 2030

Science, technology, innovation to contribute over 50 percent to agricultural growth by 2030

The Ministry of Agriculture and Rural Development (MARD) is striving to increase the proportion of science, technology and innovation’s contributions to the sector’s growth by over 50 percent by 2030 through research, transfer and application activities.
Seven technologies to watch in 2023

Seven technologies to watch in 2023

Nature’s pick of tools and techniques that are poised to have an outsized impact on science in the coming year.
Technology trends to watch in 2023

Technology trends to watch in 2023

The start of a new year is often a time to contemplate the future and what might lie ahead on the horizon.
Managed security provides IT talent gap solution for businesses in SEA

Managed security provides IT talent gap solution for businesses in SEA

Global cybersecurity company Kaspersky today reveals the state of MSSP in the region, particularly the main benefits that local SMBs and enterprises gain from this outsourcing model.
Positive signs for Vietnam’s labour market

Positive signs for Vietnam’s labour market

Vietnam will continue to be affected by a labour shortage in the first and second quarters of 2023, but the deficit is not great and is mainly present in labour-intensive sectors such as garments, leather, and some export-led industries, especially in foreign-invested enterprises.
Illegal fishing tackled with drastic measures to remove

Illegal fishing tackled with drastic measures to remove 'yellow card'

The Government, ministries and local authorities have been improving legal enforcement, supervision on the implementation of the law and traceability requirements through heavier fines on illegal fishing.
Hunting for real estate investment opportunities after Tet

Hunting for real estate investment opportunities after Tet

Although the market faced a standstill at the end of 2022, wealthy investors are still hunting for potential business opportunities after the Lunar New Year holiday.
Vietnamese university up 97 places in Webometrics ranking

Vietnamese university up 97 places in Webometrics ranking

Vietnam National University (VNU) - Hanoi climbed 97 places to rank 661st in the latest Webometrics Ranking of World Universities in 2023, which was announced on February 1 by the Cybermetrics Lab, a member of the Spanish National Research Lab.
JTI Vietnam certified as Top Employer for 3rd year

JTI Vietnam certified as Top Employer for 3rd year

Top Employers is a global award organized annually by the Top Employers Institute, through rigorous evaluation criteria for employers to select enterprises with the best working conditions. JTI Global and JTI Vietnam are proud to become the Top Employers again in 2023.
Doosan Vina and Chung Ang University continue educational CSR program

Doosan Vina and Chung Ang University continue educational CSR program

Recently, Doosan Enerbility Vietnam (Doosan Vina) and Chung Ang University (CAU), Korea organized charity activities and educational exchanges at Binh Thanh No. 2 Primary School and Binh Minh No. 1 Primary School in Binh Son District, Quang Ngai Province.
Nestlé Vietnam and the journey to sustainable development

Nestlé Vietnam and the journey to sustainable development

(VEN) - With nearly three decades of operation in Vietnam, Nestlé Vietnam has been implementing many initiatives to improve human health and protect the planet through its commitments and sustainable development strategy. Recently, the company has continued to be honored as the Most Sustainable Business in Vietnam.
VIMC embarks on strong recovery

VIMC embarks on strong recovery

(VEN) - In the context of the strong recovery of the maritime transport market, the Vietnam Maritime Corporation (VIMC) has brought into play its internal strength to achieve successful business results in 2022.
Hoi An launches unprecedented tourism product

Hoi An launches unprecedented tourism product

A live entertainment show entitled “Hoi An show – Gratitude”, which is considered an unprecedented tourism product, took place on January 30 in the ancient city of Hoi An.
Artists Cơ, Nghiệp set Guinness World Record in last int

Artists Cơ, Nghiệp set Guinness World Record in last int'l show

Vietnamese acrobatic artists Giang Quốc Cơ and Giang Quốc Nghiệp has set up a world record in their last international performance in a Guinness World Record show in Milan, Italy.
The unique Giong Festival of Hanoi

The unique Giong Festival of Hanoi

The festival is held annually around the capital to commemorate Saint Giong, a local hero who sacrificed his life to defeat invaders.
Late artist Nguyen Tu Nghiem

Late artist Nguyen Tu Nghiem's works on display in rare exhibition

This rare opportunity for art lovers to see the artist's works is being held to honour his career, which spanned over 70 years in the 20th and 21st centuries.
Ninh Binh listed among world

Ninh Binh listed among world's top 10 most welcoming regions

Ninh Bình has been ranked seventh in the Most Welcoming Regions On Earth, a category of the Traveller Review Awards 2023, by the leading digital hotel booking service that covers more than 220 countries and territories.
Foreign visitors to Vietnam surge 44.2 times

Foreign visitors to Vietnam surge 44.2 times

Vietnam welcomed 872,000 foreign visitors in January, up 44.2 times against the same time last year, according to the General Statistics Office.
About nine million Vietnamese travel during Tet holiday, revenues down

About nine million Vietnamese travel during Tet holiday, revenues down

During the holiday from January 20-26, total revenue from tourism activities was estimated at VND17.5 trillion (US$745.79 million), down 30 percent year on year, reported the Vietnam National Administration of Tourism (VNAT).
18,000 tourists spend US$18.3 million on foreign tours during Lunar New Year

18,000 tourists spend US$18.3 million on foreign tours during Lunar New Year

The number of tourists choosing foreign tours accounted for 55 to 65 percent of the total domestic and foreign tours.
Mobile Version