As of November 2024, a total of 147 countries and territories have invested in Vietnam. The country currently has 41,720 valid projects with a total registered capital of US$497 billion. Mr. Vu Van Chung, Deputy Director of the Foreign Investment Agency at the Ministry of Planning and Investment spoke at the forum on green solutions for industrial parks and investment promotion organized in Vinh Phuc province on December 9.
Japan and South Korea have shown a slowdown of investment in Vietnam while China is expanding its investments to diversify supply chains and take advantage of trade commitments of the host country.
In addition, Singapore and Singapore-based third-party countries have a tendency to invest in expansion in Vietnam. The US is shifting 30 percent of its investments out of China while Taiwan (China) is moving its investment into Vietnam in the fields of electricity—electronics, high-tech home appliances, electric vehicle batteries, and others.
Europe is strengthening cooperation with ASEAN to diversify supply chains. European partners are interested in the sectors including clean energy, renewable energy, green hydrogen, semiconductors, research and development, artificial intelligence, and robotics, he added.
According to the German Industry and Commerce in Vietnam, 90 percent of German businesses wish to continue expanding their investments in Vietnam. Meanwhile, the Netherlands and Belgium are promoting investments in Vietnam, primarily in the fields of technology and renewable energy. In recent years, Middle Eastern countries have prioritized Vietnam in their “Eastward Policy.” Specifically, products exporting to Europe and North America must achieve carbon credits.
The Director of the Foreign Investment Agency emphasized that the local authorities must pay attention to top priorities, including improvement of the quality of human resources, infrastructure, and administrative procedures; enhancing investment promotion by promoting the province's images on international media channels; organizing investment promotion conferences in key markets such as the United States, Japan, South Korea, and the EU; and attracting strategic investors.
The localities must support existing businesses, solve their difficulties and obstacles in a timely manner, develop regional and sectoral linkages, implement strict environmental control measures, and encourage FDI enterprises to invest in clean production technologies.
According to the representative of the Foreign Investment Department, international organizations still assess that Vietnam has the potential to achieve good growth and is an attractive investment market.
According to credit rating agencies, Moody's, along with Standard and Poor's (S&P), Vietnam is one of the two countries in Asia that have improved their long-term credit ratings at a stable, positive level.
Vietnam is ranked 8th among 121 countries and territories listed in the Japanese-based media group Nikkei's Covid-19 Recovery Index.
The HSBC Global Connections survey found that Vietnam's economic resilience and competitive wages rank foremost in attracting international firms.
A recent survey conducted by the Japan External Trade Organization (JETRO) showed that Vietnam is the second most attractive and potential investment destination in the world and ranks first in Southeast Asia.
European businesses operating in Vietnam have ranked Vietnam among the top 10 global investment destinations, according to the latest Business Confidence Index (BCI) from EuroCham.
