This continues to be one of the bright spots in Vietnam's economic growth picture in 2024. In particular, the industrial production index in the first two months of 2024 is estimated to increase by 5.7% over the same period in 2023, down 2.9%.
The country has 39,553 valid projects with a total registered FDI capital of 473.1 billion USD. The accumulated realized capital of foreign direct investment projects is estimated at nearly 300 billion USD, equivalent to nearly 63.4% of the total registered investment capital in effect.
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| By the end of 2023, Ho Chi Minh City is still the leading locality in the country in attracting FDI capital with 5.85 billion USD. |
Specifically, the processing and manufacturing industry increased by 5.9%. Some key secondary industries increased sharply, such as the production of chemicals and chemical products, up 27.7%. Production of coke and refined petroleum products increased by 25.3%, production of rubber and plastic products increased by 24.3%. Production of beds, cabinets, tables and chairs increased by 23.4%. Production of drugs, pharmaceutical chemicals and medicinal materials increased by 23.2%. Production of electrical equipment increased by 22.1%. Textiles increased by 17.6%.
Investment capital is concentrated in provinces and cities with many advantages in terms of good infrastructure, stable human resources, efforts to reform administrative procedures and dynamism in investment promotion, etc. such as Hanoi Capital, Quang Ninh, Thai Nguyen, Ba Ria - Vung Tau, Bac Ninh, Dong Nai, Bac Giang , Ho Chi Minh City, Hai Phong City, Hung Yen. These 10 localities alone account for 74.3% of new projects and 81.7% of the country's investment capital.
Traditional and Asian investors remained the largest partners in the first two months of the year. Singapore, Hong Kong, Japan, China, and South Korea accounted for 77% of new investment projects and nearly 85.5% of the country’s total registered investment capital.
Currently, foreign investors in Vietnam have invested in 19/21 industries. Of which, the processing and manufacturing industry accounts for the highest proportion with nearly 285.4 billion USD, accounting for 60.3% of total investment capital. Real estate business with more than 69.6 billion USD, accounting for 14.7% of total investment capital. Electricity production and distribution with nearly 40.7 billion USD, accounting for nearly 8.6% of total investment capital.
The export activities of the foreign-invested sector in the first two months of the year played an important role, supporting the country's trade surplus of about 4.63 billion USD. This sector had a trade surplus of over 8.9 billion USD including crude oil and a trade surplus of over 8.6 billion USD excluding crude oil, offsetting the trade deficit of 4.29 billion USD of the domestic enterprise sector.
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