FDI attraction hits nearly $25 bln in 9M

Vietnam attracted FDI of $24.78 billion in the first nine months of this year, surging 11.6% compared to the same period of 2023, according to the Foreign Investment Agency (FIA) at the Ministry of Planning and Investment.

There were 2,492 new FDI projects granted investment licenses in the period, with total registered capital of over $13.55 billion, up 11.3% year-on-year in value.

Meanwhile, more than $7.64 billion was added to 1,027 existing FDI projects, a year-on-year rise of 48.1%.

In September alone, Vietnam attracted nearly $4.26 billion of FDI, accounting for 17.2% of the total capital in the nine-month period, marking the highest since the early year.

Capital adjustment in September also hit the record high so far this year. There were three major projects with capital increase of between $200 million to nearly $1 billion each.

The average capital scale of new FDI projects increased to $5.44 million per project in the first three quarters of 2024 from $4.68 million per project in the same period of 2023.

The FIA said this is a positive signal demonstrating that foreign investors continue consider Vietnam an attractive destination for long-term investment.

In the nine-month period, the manufacturing and processing took the lead in terms of investment capital with nearly $15.64 billion, or 63.1% of the total registered capital, and down 0.4% year-on-year.

The property sector ranked second with a total investment of over $4.38 billion, or nearly 17.7% of the total registered capital, and marking a 2.2-fold increase year-on-year.

Singapore ranked first among 98 countries and territories with investment in Vietnam during the period with over $7.35 billion, or 29.7% of the total FDI capital, up 69% year-on-year. China ranked the second with over $3.2 billion, accounting for 13% and a reduction of 4.5% compared to the same period last year. Following were the Republic of Korea, Hong Kong (China) and Japan.

Meanwhile, China took the lead in the number of new investment projects with 29.3%.