Hanoi still tops FDI destinations during nine months

Hanoi recorded nearly 2.53 billion USD in foreign direct investment (FDI) registered during the first nine months of 2023, maintaining its top position in FDI attraction in Vietnam, said the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

The FDI in Hanoi accounted for nearly 12.5% of the registered sum nationwide and increased 2.46-fold year on year.

During the period, foreign investors poured money into 54 of the 63 provinces and centrally-run cities.

The northern city of Hai Phong came second with nearly 2.21 billion USD, equivalent to 10.9% of the total and up 82.4% from a year earlier. It was followed by Ho Chi Minh City, Bac Giang province, and Binh Duong province.

Meanwhile, HCM City took the lead in the number of new FDI projects, the ones receiving additional capital, as well as foreign investors’ deals to contribute capital to and purchase shares of domestic companies, which respectively expanded 38.2%, 23%, and 66.3%.

Among the 102 countries and territories investing in Vietnam during the nine months, Singapore was the biggest investor with more than 3.98 billion USD, or over 19.7% of the total but down 15.2% year on year.

It was followed by China (2.92 billion USD, 14.5% of the total, and up 94.9%) and Japan (nearly 2.9 billion USD, 14.3% of the total, and up 51%).

China had the biggest number of new projects (21.2% of the total) while the Republic of Korea led in terms of the projects added with more investment (26.7%) and the number of capital contribution and share purchase deals (28.5%), statistics show.

The FIA said that between January and September, the disbursed capital of FDI projects rose 2.2% year on year and 0.5 percentage point from the eight-month figure, proving the effectiveness of the Government’s strong measures for tackling difficulties facing businesses.

Though the nine-month registered FDI, nearly 20.21 billion USD, fell slightly from the eight months (by 0.5 percentage point), it was still 7.7% higher than in the same period last year.

Additionally, the additional capital in recent months has been on the rise in recent months compared to the first months of the year. The number of existing projects added with more funding has also gone up, demonstrating investors’ trust in Vietnam’s investment climate, according to the FIA./.