FDI businesses pour nearly US$5.45 billion into Vietnam in Q1 2023

Vietnam attracted nearly US$5.45 billion in foreign direct investment (FDI) in the first quarter of the year, equivalent to 61.2% against the same period from last year, according to the Ministry of Planning and Investment.

Of the total, more than US$3 billion was injected into 522 new projects, up 62.1% in project number but down 5.9% from a year ago.

Meanwhile, 228 existing projects had their capital adjusted with a total amount of US$1.2 billion, up 2.6% in project number but down 70.3% in capital year on year.

Furthermore, there were also 440 capital contributions and share purchases valued at US$797.9 million, representing a rise of 10% and 3.7% in contribution and share capital, respectively.

Statistics compiled by the Foreign Investment Agency indicate that the disbursement of FDI projects throughout the reviewed period dropped by 2.2% to US$4.3 billion year on year.

Bac Giang, Dong Nai, Bac Ninh, Ho Chi Minh City, and Hai Phong were the leading localities for FDI attraction thanks to advantages in infrastructure, stable human resources, administrative reform, and numerous investment incentives.

Foreign financiers poured funds into 17 out of 21 national economic sectors. Of which, processing and manufacturing continued to lead the way with a total investment of nearly US$4 billion, followed by real estate with nearly US$766 million.

By injecting nearly US$1.69 billion, Singapore topped the list of 67 foreign investors in Vietnam, followed by China with roughly US$552 million, and Taiwan (China) with more than US$477 million

(Source:VOV)