According to the General Statistics Office (Ministry of Planning and Investment), as of December 20th, the total registered FDI capital, including newly registered, adjusted, and equity investment by foreign investors, reached over US$36.6 billion, an increase of 32.1% compared to the same period in 2022.
" In the total registered FDI capital of 2023, newly registered capital and capital contributed through share purchases (accounting for 78.47% of the total capital) increased significantly, by 62.2% and 65.7% respectively compared to the same period in 2022, contributing to the impressive overall increase in total registered FDI capital in 2023," said Ms. Nguyen Thi Huong, Director General of the General Statistics Office, at a press conference announcing socio -economic data for the fourth quarter and the year 2023, held on December 29th in Hanoi.
Ms. Huong further informed that only the adjusted registered capital (accounting for 22.5% of total capital) decreased by 22.1%, but this decrease was a significant improvement compared to the 32.1% decrease in the first 11 months and the 39.0% decrease in the first 10 months of 2023. Notably, the number of projects adjusting capital increased by 14%, affirming investors' confidence in Vietnam's investment environment and leading to continued decisions to expand existing projects.
The General Statistics Office has identified four FDI projects with very high registered capital in 2023, attracting nearly $5.2 billion.
Firstly, there is the Thai Binh LNG thermal power plant project (Japan), with a total registered investment capital of 1.99 billion USD, aiming to produce electricity from liquefied natural gas (LNG).
Secondly, there 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 .
Thirdly, there is the LITE-ON Quang Ninh factory project (Taiwan, China) with a total registered investment capital of 690 million USD, aiming to manufacture computers and computer peripherals in Quang Ninh.
Fourth is the LG INNOTEK Hai Phong factory project (South Korea), with an adjusted capital increase of an additional $1 billion.
Optimism regarding FDI inflows into Vietnam in 2024.
According to the General Statistics Office, the total registered FDI capital in 2023 increased by 32.1% compared to the same period in 2022, which is the highest and most impressive increase since the Covid-19 pandemic emerged in 2020 and was completely controlled in 2022 (in 2020 it decreased by 25%; in 2021 it increased by 9.2%; in 2022 it decreased by 11.0%).
This result is due to the continuously improving and attractive investment environment with many outstanding advantages. At the same time, in 2023, the economic diplomacy activities of the Party and Government were strengthened, and Vietnam upgraded its comprehensive strategic partnerships with Japan and the United States, which is expected to bring a new wave of high-quality investment into Vietnam.
According to the leaders of the General Statistics Office, the successful attraction of FDI, especially in the second half of the year, contributed to the realized FDI flow in Vietnam in 2023 reaching US$23.2 billion, an increase of 3.5% compared to the same period last year; in terms of scale, this is the year with the highest realized FDI volume ever.
Vietnam has participated in numerous free trade agreements (FTAs), becoming a signatory to FTAs with all major global economic partners such as Japan, China, the US, the EU, Russia, and others.
Among the FTAs that Vietnam has signed, the Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP) and the Vietnam-EU Free Trade Agreement (EVFTA) stand out, creating favorable conditions to boost the attraction of foreign investors and expand investment opportunities in Vietnam…
"This could be an optimistic trend, with confidence that FDI inflows into Vietnam will continue to grow well in 2024 and subsequent years," Ms. Huong said.
In 2023, the total newly registered FDI capital reached nearly 20.2 billion USD. This accounted for nearly 55.2% of the total registered capital, an increase of 62.2% compared to the same period in 2022 (corresponding to a 56.6% increase in the number of newly approved projects).
The total adjusted registered FDI capital reached nearly US$7.9 billion, accounting for over 21.5% of the total registered capital, a decrease of 22.1% compared to the same period in 2022 (corresponding to a 14.0% increase in the number of projects adjusting their capital).
The total value of foreign investors' capital contributions reached over US$8.5 billion, accounting for more than 23.3% of the total registered capital, an increase of 65.7% compared to the same period in 2022 (corresponding to a slight decrease of 3.2% in the number of investment projects).
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