FDI attraction hits $20.5 bln in 8M

Vietnam attracted FDI capital of more than $20.5 billion in the first eight months of 2024, a year-on-year growth of 7%, figures from the Foreign Investment Agency (FIA) at the Ministry of Planning and Investment (MPI) show.

Of the total, $12 billion was registered for 2,247 new projects, up 27% in capital value and 8.5% in project number.

There were also 926 projects adjusting their capital, up 4.9 per cent year-on-year, adding a total of over $5.7 billion, up 14.8 per cent.

Meanwhile, foreign investment through contributing capital to and buying stakes of local firms dropped 40.9% to nearly $2.81 billion.

Newly registered FDI capital focused on the manufacturing and processing sector with $8.53 billion, accounting for 71.1% of the total. 

Among 66 countries and territories investing in Vietnam in the first eight months, Singapore took the lead with a total investment capital of nearly $4.66 billion, accounting for 38.8% of the total. It was followed by China with nearly $1.7 billion, Hong Kong (China) $1.41 billion, Japan $1.24 billion and Turkey $731.3 million.