4 FDI projects attract 'huge' capital, nearly 5.2 billion USD

According to the General Statistics Office (Ministry of Planning and Investment), as of December 20, the total newly registered, adjusted and contributed FDI capital to buy shares by foreign investors reached over 36.6 billion USD, an increase of 32.1% over the same period in 2022.

" Of the total registered FDI capital in 2023, newly registered capital and capital contributed to buy shares (accounting for 78.47% of the total capital) increased very high, up 62.2% and 65.7% respectively over the same period in 2022, contributing to the impressive overall increase in total registered FDI capital in 2023," said Ms. Nguyen Thi Huong, General Director of the General Statistics Office, at a press conference announcing socio -economic data for the fourth quarter and 2023 held on December 29 in Hanoi.

Ms. Huong added that only the adjusted registered capital (accounting for 22.5% of total capital) decreased by 22.1%, but this decrease has improved significantly compared to the decrease of 32.1% in 11 months and the decrease of 39.0% in 10 months of 2023. Notably, the number of projects with adjusted capital increased by 14%, affirming investors' confidence in Vietnam's investment environment, continuing to make decisions to expand existing projects.

The General Statistics Office has named four FDI projects with very high registered capital in 2023, attracting nearly 5.2 billion USD.

The first is the Thai Binh LNG thermal power plant project (Japan) with a total registered investment capital of 1.99 billion USD with the goal of producing electricity from liquefied natural gas (LNG).

The second is the JINKO SOLAR HAI HA VIETNAM photovoltaic cell technology complex project (Hong Kong, China) with a total registered investment capital of 1.5 billion USD in Quang Ninh .

The third is the LITE-ON Quang Ninh factory project (Taiwan, China) with a total registered investment capital of 690 million USD, with the goal of manufacturing computers and computer peripherals in Quang Ninh.

The fourth is the LG INNOTEK Hai Phong factory project (Korea), with capital adjusted to increase by 1 billion USD.

Optimistic about FDI inflows into Vietnam in 2024

The General Statistics Office acknowledged that the total registered FDI capital in 2023 increased by 32.1% over the same period in 2022, the highest and most impressive increase since the Covid-19 pandemic appeared, broke out in 2020, and was completely controlled in 2022 (decreased by 25% in 2020; increased by 9.2% in 2021; decreased by 11.0% in 2022).

This result is due to the investment environment always being improved, attractive with many outstanding advantages. At the same time, in 2023, the economic diplomacy activities of the Party and Government were strengthened, Vietnam upgraded the comprehensive strategic partnership with Japan and the US, which is expected to bring a new wave of quality investment to Vietnam.

According to the General Statistics Office, the successful attraction of FDI, especially in the second half of the year, contributed to the FDI capital flow implemented in Vietnam in 2023 reaching 23.2 billion USD, an increase of 3.5% over the same period last year; in terms of scale, it is the year with the highest scale of implemented FDI capital ever.

Vietnam has participated in many free trade agreements (FTAs), becoming a country that has signed FTAs ​​with all major economic partners around the world such as Japan, China, the US, the EU, Russia...

Notable among the FTAs ​​that Vietnam has signed are the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Vietnam - EU FTA (EVFTA), creating favorable conditions to promote the attraction of foreign investors to expand investment opportunities in Vietnam...

"This could be an optimistic trend, believing that FDI capital flows into Vietnam will continue to grow well in 2024 and the following years," said Ms. Huong.

In 2023, the total newly registered FDI capital will reach nearly 20.2 billion USD, accounting for nearly 55.2% of total registered capital, an increase of 62.2% over the same period in 2022 (equivalent to an increase of 56.6% in the number of newly licensed projects).

Total registered adjusted FDI capital reached nearly 7.9 billion USD, accounting for more than 21.5% of total registered capital, down 22.1% over the same period in 2022 (corresponding to an increase of 14.0% in the number of projects adjusting capital).

The total value of foreign investors' capital contributions reached more than 8.5 billion USD, accounting for more than 23.3% of the total registered capital, an increase of 65.7% over the same period in 2022 (corresponding to a slight decrease of 3.2% of the number of projects contributing capital).

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