Chinese capital accelerates into Vietnam

In recent years, Chinese investors have accelerated their investment in Vietnam. This trend is continuing.

Produced at Luxshare Company (Chinese investment). Photo : Duc Thanh

More major Chinese projects in Vietnam

A few days ago, two large projects, with an investment capital of up to hundreds of millions of USD, officially broke ground in Bac Ninh province. That is the Victory Giant Technology Vietnam Factory Project of Victory Giant Technology Joint Stock Company (Guangdong Province, China), specializing in research and development, production and trading of high-precision multi-layer PCB circuit boards, HDI, FPC and Rigid-Flex flexible circuit boards, with an investment capital of 520 million USD. The second project is Green Precision, specializing in research, design and production of precision components and structures for electronic consumer products such as speakers, phones, tablets, electronic payment devices, etc., with an investment capital of more than 120 million USD.

“Hopefully, when the projects come into operation, they will create great production value, contributing to the overall development of Bac Ninh province,” said Chairman of Bac Ninh Provincial People's Committee Vuong Quoc Tuan on the day the two projects broke ground.

Both projects are in the high-tech sector and are being implemented by Chinese investors. These are also the two projects that were granted investment registration certificates last year, when investment capital from China was pouring into Vietnam, surprising even the foreign press.

In September 2024, when publishing its report, HSBC Bank said that in Southeast Asia, HSBC's Chinese customers were most interested in expanding their market to Singapore, followed by Vietnam. "Vietnam attracts neighboring investors because of its close economic relationship," HSBC experts said.

And it is true that the close economic relationship has brought more and more Chinese investors to Vietnam, especially after Covid-19. In 2023, Chinese investors registered to invest in Vietnam up to 4.47 billion USD, an increase of 77.6% compared to 2022. In 2024, the figure was more than 4.73 billion USD, an increase of 3.1% compared to 2023. In the first 3 months of this year, there was more than 1.47 billion USD of investment capital from China registered in Vietnam, an increase of 68.5% compared to the same period last year.

According to the report of the Foreign Investment Agency ( Ministry of Finance ), in the first 3 months of the year, in terms of capital, Chinese investors ranked only 3rd among countries and territories investing in Vietnam, but in terms of the number of projects, China took the lead. In the first quarter of 2025, Chinese enterprises registered 251 new investment projects, accounting for 29.5% of the total number of newly registered projects.

In the first quarter of 2025, Chinese enterprises registered to invest in 251 new projects, accounting for 29.5% of the total number of newly registered projects.

These are just the number of projects and capital of mainland Chinese investors. If we include capital from Taiwan (China) and Hong Kong (China), the number is much larger. In recent years, many big names from mainland China, Taiwan (China), and Hong Kong (China) have invested in large-scale projects in Vietnam. Foxconn, Goertek, Winson, Pegatron, Luxshare, Compal… are typical examples.

Recently, Lite-On, a Taiwanese (Chinese) investor, also started construction of a 690 million USD project in Quang Ninh. This project specializes in manufacturing electronic components, wireless network connection devices, power converters, electric vehicle chargers, etc. The emergence of these projects has contributed to making Vietnam a "stronghold" for the production of electronic devices, thereby contributing to Vietnam's deeper participation in the global electronics supply chain, including the semiconductor industry.

Increase in quality, increase in economic connectivity

Interestingly, contrary to previous concerns, recently, the flow of investment from China to Vietnam has been increasing in quality. More and more international corporations in the fields of technology, electricity - electronics, processing, manufacturing, infrastructure, renewable energy, electric vehicles, etc. have registered to invest in Vietnam.

Prime Minister Pham Minh Chinh, in a meeting with a series of large Chinese enterprises in February 2025, such as China Railway 6th Bureau, China Construction, Power China, Chery, BYD, Sailun, TCL, Goertek, etc., affirmed this. The Prime Minister also expressed his hope that Chinese enterprises would continue to invest and use Vietnam as a production and business base, thereby contributing to Vietnam's development of the digital economy, green economy, circular economy, rapid and sustainable development, etc.

In response, Chinese enterprises have also affirmed their interest in the Vietnamese market and said they wish to expand their business investment, focusing on strategic infrastructure sectors, especially transportation, new growth drivers such as green economy, digital economy, circular economy, electronics, information technology, clean energy, etc.

If these plans come true, Chinese investment in Vietnam will continue to increase in quality, contributing significantly to Vietnam's deeper participation in the global value chain.

On the day the Lite-On Project started construction, Mr. Shiro Sadoshima, executive advisor of AMATA Corporation PCL, the investor of Song Khoai Industrial Park infrastructure, said that Lite-On's decision to invest 690 million USD in Amata City Ha Long not only shows its trust in Amata, but also strengthens Vietnam's position as a key player in the global electronics supply chain.

“Lite-On's choice to build and manufacture high-tech electronic products and accessories here will further strengthen the high-tech industrial ecosystem in our region in general and in Quang Ninh province in particular,” Mr. Shiro Sadoshima emphasized.

The positive news is that recently, Hung Yen has also promoted investment in China. And at the investment promotion conference held in Shaanxi, a series of cooperation agreements were signed. For example, the agreement between Xi'an GSR Energy Storage Technology and Makara Fund to survey and research investment in a solar panel production project and a factory producing fast charging station equipment and storage panels; or the agreement on researching and surveying suitable locations for a green hydrogen production plant project with a capacity of 3 million tons/year in Hung Yen...

As the deals are implemented, capital from China will continue to flow into Vietnam, contributing to increasing connectivity between the two economies of Vietnam and China.

Source: https://baodautu.vn/von-tu-trung-quoc-tang-toc-vao-viet-nam-d267143.html