Many electronic product manufacturing corporations tend to look to Vietnam.

In the first 6 months of 2024, Vietnam has achieved quite positive results in attracting and implementing foreign direct investment (FDI). Data from the General Statistics Office shows that the total registered investment capital reached nearly 15.2 billion USD, up 13.1% over the same period in 2023. Both new investment capital and adjusted capital increased over the same period with increases of 46.9% and 35%, respectively. Foreign investors continue to consider Vietnam an important investment destination in the medium and long term, in the context of the restructuring of the global supply chain.

In parallel, realized capital is estimated at 10.84 billion USD, up 8.2% over the same period in 2023. The increase in both registered and realized FDI capital is expected to further promote domestic activities.

FDI capital flow developments in the first 6 months of 2024. Photo: General Statistics Office

Commenting on the above context, the Ministry of Planning and Investment (MPI) said that according to the current assessment of many domestic and foreign financial institutions, Vietnam's prospects for attracting FDI this year will maintain a positive pace thanks to three core factors: including the important and increasingly strengthened role in the supply chain diversification strategy of multinational manufacturers; Vietnam's economic growth recovering more positively this year; and stable macro-economy.

The MPI stated that Vietnam has potential for investment in many cutting-edge industries. The technology sector is undergoing a lot of innovation and digitalization. Similarly, the renewable energy sector is attracting attention, with an increasing focus on clean energy sources such as solar and wind power to sustainably enhance Vietnam’s electricity supply.

Investor confidence in Vietnam continues to be strengthened, with existing investors confident in the Government's policies and the future development of Vietnam's economy . At the same time, many investors consider Vietnam an attractive destination with great potential and room for growth in the medium and long term.

Vietnam's position in the electricity and electronics supply chain is increasingly consolidated, so there is a tendency for many corporations producing electronic products to come to Vietnam.

However, the Ministry of Planning and Investment also believes that Vietnam must actively overcome some current bottlenecks. These include urgently preparing skilled human resources, especially in the field of semiconductor electronics; overcoming local power shortages in some localities with many electronics industry projects; reviewing procedures to simplify and shorten processing time, especially procedures after granting investment registration certificates such as construction permits, fire prevention and fighting permits, etc.

"The Government and the Prime Minister have given timely instructions so that in the coming time, all levels and sectors will focus on drastic solutions to resolve these bottlenecks. Accordingly, there will be positive impacts on FDI attraction results in the last 6 months of 2024, continuing to maintain positive growth momentum, reaching the same level or higher than in 2023" - said the Ministry of Planning and Investment.

Source: https://laodong.vn/kinh-doanh/nhieu-tap-doan-san-xuat-san-pham-dien-tu-co-xu-huong-tim-den-viet-nam-1364850.ldo