Vietnam has attracted close to $8.9 billion in foreign direct investment (FDI) in the first four months of 2023, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. This is a promising sign of economic recovery after a slight fall in the first three months of the year.
During the period, 750 new projects worth over $4.1 billion were granted investment licenses, while foreign investors conducted 1,044 transactions of capital contribution and share purchases, with their contributed capital exceeding $3.1 billion, up by 70.4 per cent year on year.
Vietnam’s stability in politics and society, favorable investment policies, and rapid economic growth make it attractive to foreign investors. The government has made significant efforts to improve the investment climate, infrastructure, and administrative procedures to support businesses.
The country’s top FDI destinations, Hanoi, Bac Giang, Ho Chi Minh City, Binh Duong, and Dong Nai, have all benefited from the inflow of foreign investment. Vietnam aims to achieve higher levels of economic development and encourages investment in high-tech, environmentally friendly industries, as well as in infrastructure, logistics, and tourism.
As the pandemic situation improves globally, Vietnam expects to continue to attract more FDI in the coming years, providing more job opportunities for its people and boosting its economic growth.