Vietnam attracts over 39,100 FDI projects with registered capital of nearly 469 billion USD so far

Vietnam had attracted 39,140 foreign direct investment (FDI) projects with total registered capital of over 468.91 billion USD by the end of 2023, reported the Foreign Investment Agency under the Ministry of Planning and Investment (MPI).

Vietnam attracts over 39,100 FDI projects with registered capital of nearly 469 billion USD so far -0
Illustrative photo (Photo: VNA)

Ho Chi Minh City topped the list of localities nationwide in FDI attraction with 12,398 projects and registered capital of 57.63 billion USD, accounting for 31.67% of the total number of projects and nearly 13% of the total registered capital. It was followed by Hanoi with 7,363 projects and registered capital of 41.17 billion USD; and southern Binh Duong province with 4,217 projects and 40.4 billion USD.

Other major investment destinations in Vietnam included Dong Nai, Ba Ria-Vung Tau, Hai Phong, Bac Ninh, Thanh Hoa, Long An and Quang Ninh.

Meanwhile, 10 localities with the lowest amounts of FDI in Vietnam included Lai Chau, Dien Bien, Ha Giang, Cao Bang, Bac Kan, Gia Lai, Son La, Ca Mau, Tuyen Quang and Dong Thap.

In 2023 alone, Vietnam attracted 36.6 billion USD in FDI with major investment destinations including Ho Chi Minh City, Hai Phong, Quang Ninh, Bac Giang, Hanoi, Bac Ninh, Binh Duong, and Dong Nai.

According to the MPI, in the past time, the FDI capital flows into Vietnam have still focused on provinces and cities that have many advantages such as favourable infrastructure and stable human resources, administrative reform and dynamism in investment promotion.

Deputy Minister of Planning and Investment Tran Quoc Phuong said at a recent meeting that the position and role of Vietnam in the global FDI flows have continued to improve

Vietnam has not only been an attractive investment destination, with registered FDI capital in 2023 reaching about 36.6 billion USD, a year-over-year increase of over 32%, but also proactively invested abroad, even in developed economies and in new industries.

Moreover, Vietnam has strongly promoted innovation, digital economy, green growth, circular economy, and new economic sectors such as chip manufacturing, semiconductors, high-tech agriculture, and mining, high-quality human resources training to better seize opportunities from major countries’ strategic competition, global FDI capital flow shifting, free trade agreements, and partnerships with other countries.

However, Phuong said that Vietnam’s foreign investment in the new situation still faces shortcomings in terms of institutions, policies, investment quality and efficiency.

He added that Vietnam is a bright spot in FDI attraction in the world but the link between the FDI sector and domestic enterprises is still weak and has not strongly promoted technology transfer and improved position in the global value chains.

Economy

Measures needed to adapt to US tariffs: Experts
Economy

Measures needed to adapt to US tariffs: Experts

Economists underlined the need for Vietnamese Government and businesses to apply measures to adapt to the new tariff policy of the US to maintain growth during a meeting held by the Ho Chi Minh City Department of Industry and Trade on April 8.

Proposed VAT reduction expected to boost consumption, businesses' growth
Economy

Proposed VAT reduction expected to boost consumption, businesses' growth

The Ministry of Finance (MoF) has proposed a 2% reduction in value-added tax (VAT) from July 1, 2025 to December 31, 2026, expanding eligibility to include fuel, petroleum, and certain technology products and services. Experts have believed the measure will stimulate consumption, support businesses, and drive economic growth.

Aquacultural cooperation exemplifies Vietnam - Cuba relations
Economy

Aquacultural cooperation exemplifies Vietnam - Cuba relations

Floating fish cages on La Juventud reservoir in Palacios town, Pinar del Rio province, stand as a testament to the Vietnam – Cuba friendship as Vietnam's tilapia farming technology has transformed this region into a key aquacultural hub, contributing to the Caribbean nation’s food security.