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According to data from the Foreign Investment Department under the Ministry of Planning and Investment, from the beginning of the year to March 20, the total amount of newly registered and adjusted capital, contributed capital to buy shares, purchase of capital contribution from foreign investors in Vietnam has reached US$5.45 billion, equaling 61.2 percent over the same period last year.
Minister of Planning and Investment Nguyen Chi Dung, the United States of America was the top investor in Vietnam 30 years ago. However, the largest economy in the world is now ranking the 11th among the top leading countries and territories having investment activities in the country with a total accumulated registered capital of around US$13 billion which was too moderate over the investment capital of the Republic of Korea with over US$81 billion, Singapore and Japan with US$72 billion and US$69 billion, respectively.
The new statistics in the first quarter of 2023 showed that traditional Asian investors comprising Singapore, China, the Republic of Korea, Hong Kong (China), Japan and so on were among the top foreign investors in Vietnam.
Head of International Subsidiary Banking, Wholesale Banking in HSBC Vietnam Joonsuk Park said that there have not big changes in foreign investment trends so Vietnam needs to focus on attracting multi-national enterprises in the Asian region.
Chief of Representative of the Japan External Trade Organization (JETRO) in Hanoi Nakajima Takeo proposed that the country should diversify the preferential policies, extend enterprise preferential taxation policy instead of tax reduction, especially it’s important to streamline the administrative procedures and improve public services.
