The Foreign Investment Agency under the Ministry of Planning and Investment has recently announced that between the start of the year and May 20, 2023, the total registered foreign investment capital in Vietnam reached US$10.86 billion.
At a scientific seminar held on May 12, many scientists, experts, and businesses expressed their concerns about what advantages HCMC possesses to attract FDI.
The Global Minimum Corporate Tax was mentioned and started affecting the investment environment worldwide ten years ago, but it has been brought up a lot in Vietnam recently.
Although the world economic situation was not so bright in 2022, foreign direct investment (FDI) capital flowed strongly to the Southeast region, with HCMC and Binh Duong leading with US$3.94 billion and $3.14 billion respectively.
The Investment and Trade Promotion Center Ho Chi Minh City (ITPC) and Vietnam International Arbitration Center (VIAC) coordinated to organize the Investment Support Forum and summarize the series of investment promotion events in 2022 on September 15.
Many provinces and cities across Vietnam have announced quite optimistic results in attracting Foreign Direct Investment (FDI) projects in the last months of the year.
Vietnam reached in nearly US$16.8 billion in foreign direct investment (FDI) as of August 20, down 12.3% year-on-year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
The Department of Planning and Investment of Ho Chi Minh City, on June 28, informed that the city attracted US$2.18 billion in the first six months of 2022, including newly-registered capital, capital contribution, purchase of shares, acquisition of capital contribution of domestic enterprises, up 60.07 percent over the same period in 2021.
The Management Board of the Saigon High-Tech Park (SHTP), on June 27, held a conference to promote investment in SHTP, with the attendance of Mr. Phan Van Mai, Member of the Party Central Committee, Chairman of the People's Committee of Ho Chi Minh City; leaders of departments and agencies, businesses, and investors.
The Vietnam Association of Foreign-Invested Enterprises (VAFIE) officially announced the first annual report on FDI in 2021 on May 10. Vietnam is the third-largest FDI recipient in the region.
In the first quarter, realized foreign direct investment (FDI) in Vietnam was estimated at US$4.42 billion, up 7.8 percent over the same period last year. This is the highest level of Q1 in the past five years.
By the end of the first quarter of 2022, industrial production in Ho Chi Minh City has prospered, with the added value of the whole industry increasing by 5.5 percent. Along with that, export turnover of goods is estimated at nearly US$11.9 billion, up 3.5 percent; foreign direct investment capital reaches nearly VND10 trillion. This shows that HCMC's economic growth is recovering strongly.
The total registered foreign investment capital in Vietnam by March 20, 2022, reached US$8.91 billion, down 12.1 percent over the same period last year. However, realized FDI capital reached the highest level compared to that in the first quarter of the years from 2018 to 2022.
Vietnam remains an attractive destination for Foreign Direct Investment (FDI), which is likely to experience a surge in 2022 after a long hiatus due to the pandemic, according to economic experts.
Information from foreign business associations in Vietnam shows that, in 2022, new foreign capital flows into Vietnam will not change suddenly. On the contrary, foreign capital flows from production expansion activities of existing foreign enterprises in Vietnam will increase sharply.
The Ho Chi Minh Export Processing Zone and Industrial Park Authority (Hepza) Business Association, on October 8, said that foreign investment in Vietnam in general and HCMC, in particular, has many positive signs.
Foreign investors still have high expectations for Vietnam's investment environment despite facing many difficulties at the moment due to the Covid-19 pandemic. Currently, there are still many solutions and ways to improve foreign investment attraction and prepare conditions to be ready to welcome the investment wave in the new normal.
A recently released report by the Statistics Office of Ho Chi Minh City shows that despite being heavily affected by the Covid-19 pandemic, the socio-economic situation remains stable in the first six months of the year. Noticeably, the gross regional domestic product (GRDP) in the first six months of the year increased by 5.46 percent, higher than the estimated growth of 1.02 percent in the same period last year.
Foreign investors have poured US$15.27 billion of investment in Vietnam so far this year, equivalent to 97.4 percent of the amount recorded in the same period last year, according to the Ministry of Planning and Investment (MPI).
The trust of investors in the local business climate and support from authorities for enterprises count among the factors that have helped southern Dong Nai province almost reach its foreign direct investment (FDI) target for the year.
