Investment Scale Continues to Rise
According to the latest data from Vietnam’s Foreign Investment Agency under the Ministry of Planning and Investment, the country attracted $24.78 billion in registered foreign direct investment (FDI) during the first three quarters of 2024, marking an 11.6% year-on-year increase. September alone saw registered FDI capital exceeding $4.26 billion, accounting for 17.2% of the nine-month total, demonstrating robust growth momentum.
Major Projects Drive Growth
In September 2024, three significant projects underwent capital expansion, pushing the month’s additional investment to $7.64 billion, a 48.1% year-on-year increase. A real estate project in Bac Ninh Province received a $998 million capital injection, bringing its total investment to $1.066 billion. Additionally, semiconductor packaging company Amkor Technology increased its investment by $1.07 billion, while Lixil Precision Technology invested an additional $299 million in Nghe An Province, and Vietnam Advance Tire Company expanded its investment by $227 million in Tien Giang Province.
Regional Investment Optimization
Provinces including Bac Ninh, Binh Duong, and Dong Nai have actively promoted investment opportunities through newly released provincial planning frameworks. These regions’ continuous improvement in investment climate has attracted significant foreign interest, injecting new vitality into regional economic development.
High-Tech Industries Leading Development
In terms of sector distribution, Vietnam is attracting increasing investment in high-tech industries. Foxconn Technology Group invested $383.3 million in establishing an FCPV factory in Bac Ninh Province, while Goertek invested $280 million in an electronic products facility, and Victory Giant Technology committed $260 million to a high-precision printed circuit board project. Additionally, global tech giants including NVIDIA, Qualcomm, Intel, AMD, Samsung, and Meta expressed investment intentions during Vietnam Innovation Day 2024.
Strong Capital Disbursement
Regarding actual capital disbursement, FDI disbursement reached $17.3 billion in the first three quarters of 2024, an 8.9% year-on-year increase. This figure indicates strong foreign investor confidence in the Vietnamese market and successful project implementation.
Key Takeaways:
- Vietnam achieved remarkable FDI attraction in the first three quarters of 2024, with both monthly and cumulative figures reaching new highs.
- Major project expansions drove rapid investment growth, primarily in real estate and high-tech manufacturing.
- Regional investment environments continue to improve, with multiple provinces attracting FDI through enhanced planning.
- High-tech industry investments are increasing, with sustained interest from global technology leaders.
- Strong capital disbursement reflects continued foreign investor confidence in Vietnam’s investment environment.
