Chinese FDI capital continues to flow into Vietnam

FDI capital from China has seen the presence of many internationally renowned corporations in the fields of technology, electricity-electronics, processing, manufacturing, infrastructure, renewable energy, and electric vehicles.

**Production of photovoltaic cells at the Trina Solar factory - a large corporation in the field of solar panels of China in Thai Nguyen province. (Photo: Tran Viet/ VNA)**

According to the Ministry of Planning and Investment , there were 91 countries and territories investing in Vietnam in the first 7 months of 2024.

In terms of investment capital, Singapore is still leading, but in terms of number of projects, China is the leading partner in terms of new investment projects.

Chinese FDI continues to flow into Vietnam. Specifically, Singapore leads with a total investment capital of nearly 6.52 billion USD, accounting for nearly 36.2% of total investment capital, up 79.1% over the same period in 2023.

Hong Kong (China) ranked second with over 2.19 billion USD, accounting for 12.2% of total investment capital, more than double the same period. Followed by Japan, China, and South Korea.

In terms of number of projects, China is the leading partner in the number of new investment projects (accounting for 29.7%); South Korea leads in the number of capital adjustments (accounting for 24.5%) and capital contributions and share purchases (accounting for 26%).

Minister of Planning and Investment Nguyen Chi Dung said the most noticeable positive thing is that FDI capital from China has seen the appearance of many internationally-recognized corporations in the fields of technology, electricity-electronics, processing, manufacturing, infrastructure, renewable energy, and electric vehicles.

In fact, Chinese FDI capital in Vietnam in the past often focused on manufacturing and processing of household wooden furniture, iron and steel, leather shoes, garments, food processing, plastic packaging, etc.

In recent years, Chinese capital has shifted to high-tech industries, components, spare parts for industrial production, electronics, automobiles, and green energy.

Recently, Beijing BOE Group invested in a smart terminal factory in Phu My 3 Industrial Park (Ba Ria-Vung Tau) with a total capital of 277.5 million USD, specializing in assembling and manufacturing screens for computers, televisions, circuit boards, etc., expected to operate in 2026.

In 2019, BOE Beijing also put into operation a factory in Dong Nai .

To become a locality that is always in the top of the country in attracting foreign direct investment (FDI), in addition to promoting its position as the largest port city in the North, Hai Phong constantly improves its investment environment and changes its promotion and advertising methods.

Following the success of working and investment promotion programs abroad, recently, a delegation of Hai Phong city led by Mr. Le Tien Chau, Secretary of the City Party Committee, visited, worked and promoted investment in China.

Here, Hai Phong city awarded 7 investment registration certificates with registered capital reaching nearly 200 million USD and awarded 4 memorandums of understanding on cooperation.

Hai Phong is currently the destination of the world's leading investors such as: Regina Miracle Group, Hong Kong (China) with a total capital of over 1 billion USD; Pegatron Group, Taiwan (China) with a total capital of over 800 million USD; SK Group, Korea with a total capital of over 500 million USD.

In addition, there are other corporations such as Nipro Pharma and Aeon of Japan, Tongwei of China. Mr. Jang Jin Ke, General Director of Tongwei Electronics Vietnam Co., Ltd. said that Hai Phong city organizing visits, working sessions, and investment promotion in China can improve investment efficiency, quickly identify investment opportunities, and respond quickly to market changes, thereby contributing to promoting economic development in the context of globalization.

Along with Hai Phong, Binh Duong is also a locality that strongly attracts FDI investment nationwide. Binh Duong currently has 4,322 FDI projects granted valid investment registration certificates with a total registered investment capital of more than 40.9 billion USD, accounting for more than 8.5% of the total foreign investment capital of the country.

And Binh Duong is also one of the localities with a very large number of Chinese FDI investment projects.

Director of the Department of Planning and Investment of Binh Duong province Pham Trong Nhan said that FDI capital continues to play an important role in improving the quality and scale of investment projects in Binh Duong.

FDI projects focus on industrial parks, with processing and manufacturing industries accounting for a large proportion. This not only brings strong foreign resources but also helps Binh Duong access advanced technologies and international markets.

According to Minister Nguyen Chi Dung, with the goal of selectively attracting investment and creating a widespread connection between the foreign investment sector and the domestic economic sector, the Ministry will urgently review, resolutely remove and immediately handle difficulties and obstacles in terms of institutions, laws and administrative procedures to create a driving force for breakthroughs; at the same time, focus on attracting large-scale, high-quality, high-tech FDI projects in the processing, manufacturing, electronics and semiconductor industries; promptly handle difficulties and obstacles of FDI enterprises to speed up the implementation of projects./.

Source: https://baolangson.vn/dong-von-fdi-trung-quoc-van-dang-tiep-tuc-do-vao-viet-nam-5018747.html