Ho Chi Minh City leads the whole country in terms of new projects (39.5 percent), number of adjusted projects (21.8 percent), and capital contribution and share purchases (69.3 percent).
As an economic locomotive, Ho Chi Minh City has always led the country in terms of investment attraction, drawing the attention of foreign investors from around the world.
Right at the first working week of the new Lunar year, many companies, especially those in the food processing industry, are accelerating their production to fulfill their export orders.
To attract more foreign direct investment (FDI), Vietnam needs to pay attention to training high-quality human resources, accelerating administrate reform and developing and upgrading infrastructure, according to the EuroCham.
GDP growth faster than expected, border reopening, and fuel shortages in many localities are among the top 10 events that shaped Vietnam in 2022, as selected by Vietnam News Agency.
Ho Chi Minh City (HCMC) absorbed about US$3.94 billion in foreign direct investment (FDI) in 2022, up 5.4 percent year-on-year, according to the municipal People’s Committee.
Among 54 provinces and cities nationwide that foreign investors have invested in 2022, Ho Chi Minh City leads with a total registered investment capital of more than US$3.94 billion.
Ho Chi Minh City (HCMC) licensed 807 foreign invested projects worth US$3.54 billion in the first 11 months of this year, up 3.3 percent in value from a year earlier, according to the General Statistics Office.
The ASEAN+3 Macroeconomic Research Office (AMRO) has joined many international organizations in revising Vietnam’s GDP growth this year thanks to the country’s strong performance since early this year and success in containing inflation.
Ho Chi Minh City attracted US$2.97 billion in foreign direct investment (FDI) this year to September 20, a year-on-year increase of 26.1 percent, according to the municipal Department of Planning and Investment.
Vietnam has a “golden chance” to attract a new wave of foreign investment, especially to economic zones (EZs) and industrial parks (IPs), according to Deputy Minister of Planning and Investment Tran Quoc Phuong.
As the global economy is experiencing severe instability, Vietnam is advised to find ways to minimize its dependance on imported materials while diversifying material purchase sources and trying to buy from domestic producers instead.
For the last many years, Vietnam has been in a quandary as to how to approach all Foreign Direct Investment (FDI) projects, and how best to take advantage of the opportunities they offer.
President Nguyen Xuan Phuc welcomed Lotte Group’s investment of nearly US$5 billion in Vietnam and suggested the Republic of Korea’s conglomerate further invest in Vietnam’s large projects, while hosting Lotte Chairman Shin Dong-bin in Hanoi on August 31.
All the bi-lateral and multi-lateral Free Trade Agreements (FTAs), along with the Regional Comprehensive Economic Partnership (RCEP) which came into effect on 1 January 2022, have helped in opening up the Vietnamese market to the world.
FDI disbursement in Vietnam reached US$11.57 billion in the first seven months of this year, up 10.2 percent compared to the same period last year and over 1.3 percentage points against the first half of this year.