10M FDI hits $25.76bln

10M FDI hits $25.76bln 27/10/2023 16:48:00 360

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10M FDI hits $25.76bln

27/10/2023 16:48:00

(En.vneconomy.vn) Over 2,600 new FDI projects licensed in the first ten months of the year.

Vietnam had attracted over $25.76 billion worth of FDI this year as of October 20, a year-on-year rise of 14.7 per cent, figures from the Foreign Investment Agency (FIA) at the Ministry of Planning and Investment reveal.

This is the highest growth posted this year.

During the ten-month period, 2,608 new FDI projects were licensed with total registered investment of more than $15.29 billion, up 54 per cent in number and 66.1 per cent in value.

Northern Quang Ninh province led in attraction, with nearly $3.09 billion, accounting for 12 per cent of the country’s total, according to the FIA, and a year-on-year increase of 41.3 per cent.

Of particular note, Quang Ninh recently granted investment licenses to two giant FDI projects with total capital of over $2 billion, including a $1.5 billion solar cell complex invested in by the Jinko Solar Vietnam Co. Ltd., an affiliate of the Jinko Solar Holding Co. Ltd, and the Lite-on Quang Ninh factory, with investment of $690 million.

The nearby port city of Hai Phong ranked second in attraction, with total registered investment of over $2.8 billion, or 10.9 per cent of Vietnam’s total.

Ho Chi Minh City led the country in terms of project numbers, accounting for 38 per cent of the country’s total during the ten-month period.

Most investors came from Asia, including Singapore, China, Japan, South Korea, Hong Kong (China), and Taiwan (China). These six partners accounted for 81.7 per cent of total FDI capital in the period.

Singapore led the way, with total investment of nearly $4.65 billion, followed by South Korea with $3.93 billion.

Anh Nhi

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