Many businesses expand investment and business in Vietnam.

Attracting foreign direct investment (FDI) in Vietnam continues to show positive prospects.

Xinhua News Agency reported that in the first 6 months of 2024, FDI disbursed into Vietnam reached 10.84 billion USD, up 8.2% over the same period last year. This is also the highest amount of FDI disbursed into Vietnam in 6 months in the past 5 years.

Foreign investors have invested in 18 out of 21 economic sectors in Vietnam. Of these, the processing and manufacturing sector attracted the largest market share, accounting for more than 70% of total capital. This was followed by the real estate sector, then the wholesale and retail sector.

The economy is benefiting from increased exports and foreign direct investment. The Edge Singapore news site said that committed FDI capital in Vietnam this year could reach 39-40 billion USD, up from last year.

Mr. Suan Teck Kin – Executive Director of Global Markets and Economics Research, UOB Group commented: “Investors recognise the long-term potential of the country. Therefore, they continue to invest. It is important that the government continues to meet the needs of foreign investors in terms of transportation, ports, facilities, logistics, and warehouses.”

This July, many news agencies reported that foreign corporations and businesses have announced large investments and business expansions in Vietnam. Foxconn Singapore has been granted a license to invest $551 million in two projects to manufacture smart entertainment products and smart system equipment in Quang Ninh province, according to Malaysia's The Star newspaper.

Meanwhile, the Business Times reported that Maybank – Malaysia’s largest bank – plans to double its assets in Vietnam to $2 billion by 2027 and become the leading foreign bank in Vietnam in syndicated lending, meaning it lends money to customers together with at least one other credit institution to take advantage of the booming economy.

Mr. Jose Vinals – Chairman of Standard Chartered Group commented: “Vietnam needs to continue to improve its credit rating to continue to attract foreign direct investment. An economy like Vietnam is very open and integrated into the global economy, it needs international investment to continue to grow and develop. And confidence in the investment environment in Vietnam is a very important factor”.

According to the Korean Business News, Samsung – the company with the largest foreign direct investment (FDI) in Vietnam – said it plans to invest in the display sector. In the next 3 years, the factory in Vietnam will become the world's largest display manufacturing center.

According to VTV

Source: https://doanhnghiepvn.vn/doanh-nhan/nhieu-doanh-nghiep-mo-rong-dau-tu-kinh-doanh-tai-viet-nam/20240714094844928