Not only has registered foreign investment continued to increase positively, but importantly, many large global technology enterprises have expressed their desire to cooperate and invest in Vietnam's electronics, chip, semiconductor, renewable energy, etc. industries.
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| Samkwang's factory in Quang Chau Industrial Park (Bac Giang) Photo: Duc Thanh |
Bright spots in the economic picture
Attracting foreign investment continues to be considered a bright spot in the economic picture in the first four months of 2024. When reporting at the regular Government meeting in April 2024, which took place on May 4, the leader of the Ministry of Planning and Investment emphasized this.
According to the Ministry of Planning and Investment, in the first four months of the year, total registered foreign investment capital reached nearly 9.3 billion USD, up 4.5% over the same period last year; disbursed capital reached 6.3 billion USD, up 7.4%, reaching the highest level of the first four months in the past five years.
A notable point that Mr. Do Nhat Hoang, Director of the Foreign Investment Agency (Ministry of Planning and Investment) previously emphasized was the strong growth of newly registered capital. Up to 966 newly registered projects were granted investment registration certificates in the past 4 months, with a total registered capital of more than 7.11 billion USD, an increase of 28.8% in the number of projects and 73.2% in capital compared to the same period last year. This growth rate is really encouraging in the context of global investment flows still facing many difficulties after the impacts of the pandemic and global geopolitical fluctuations.
In addition to newly registered capital, additional capital and investment capital through capital contribution and share purchase both decreased compared to the same period, reaching 1.23 billion USD, down 25.6% and nearly 929.6 million USD, down 70.1%, respectively, but that is only a matter of time. Foreign investors still have a positive and optimistic view of Vietnam as a destination.
Hyosung is an example. After 14 years in Vietnam, this group has invested more than 4 billion USD in factories in Ba Ria - Vung Tau, Dong Nai, Quang Nam and Bac Ninh. Not long ago, at the end of March 2024, Hyosung continued to invest in a 730 million USD project specializing in the production of biological products in Ba Ria - Vung Tau. The decision to invest in this factory is part of the plan to adapt to the shift of the global materials market, towards sustainable products.
In addition to being the project with the largest foreign investment registered in Vietnam since the beginning of the year, Hyoung’s biological product production project is also an encouraging change in “quality”. Biological product production is one of the fields that Vietnam encourages to attract investment.
“Many large projects in the energy sector, such as the production of batteries, photovoltaic cells, silicon bars, etc., the production of components, electronic products, and products with high added value, have also received new investment and capital expansion in the past 4 months,” commented Mr. Do Nhat Hoang.
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| Attracting foreign investment continues to be considered a bright spot in Vietnam's economic picture through the first four months of 2024. Photo: Duc Thanh. Graphics: Dan Nguyen |
Increase quantity, increase quality
Reporting at the regular Government meeting, the Ministry of Planning and Investment emphasized: “Many large global technology enterprises have expressed their desire to cooperate and invest in Vietnam's electronics, chip, semiconductor, renewable energy, etc. industries.”
That is a fact. Looking at the recent moves of corporations such as Apple, NVIDIA, Lam Research…, we can expect that there will be an even larger amount of capital in high-tech fields pouring into Vietnam.
The opportunities for Vietnam are huge. Therefore, Minister of Planning and Investment Nguyen Chi Dung always emphasizes that in the coming time, it is necessary to focus on attracting large-scale, high-tech foreign investment projects in the processing, manufacturing, electronics, semiconductor, hydrogen industries... "It is necessary to promptly handle difficulties and obstacles of foreign-invested enterprises to speed up the progress of projects", said Minister Nguyen Chi Dung. 
Mr. Keith Strier, Vice President of NVIDIA Corporation, after a survey trip to Hanoi, Da Nang and Ho Chi Minh City, said that he has “an optimism” to be able to cooperate with Vietnam in the near future. “I completely sympathize with the excitement of the Corporation’s Chairman (Mr. Jensen Huang - PV) when he visited Vietnam last time. Vietnam has all the elements to strongly develop artificial intelligence (AI), as well as master AI technology,” said Mr. Keith Strier.
No other commitments have been made, other than the agreement signed with FPT. Although in this agreement, FPT is the one who spent 200 million USD to establish AI Factory, technology experts say that being chosen by NVIDIA to cooperate can be considered a great success. This cooperation agreement is not different from the cooperation agreement to open a 200 million USD AI data center in Indonesia that NVIDIA announced earlier.
Furthermore, it is reported that NVIDIA has three major plans in Vietnam: establishing an AI research, development and training center; installing a supercomputer system; and transferring part of the production of graphics processing units (GPUs) for supercomputers to Vietnam. If these plans are realized, it will be a great opportunity for Vietnam to attract investment in these areas.
“Vietnam is increasingly demonstrating its importance in the global supply chain. Recently, Vietnam's strengths have been more clearly demonstrated in terms of politics, human resources, infrastructure and have attracted more and more attention worldwide,” said Mr. Choi Joo Ho, General Director of Samsung Vietnam, on the day Samsung officially joined the National Innovation Center (NIC) to launch the Technology Talent Development Program - Samsung Innovation Campus (SIC) for the 2023-2024 school year at NIC Hoa Lac campus.
Explaining the cooperation with NIC to implement this program, thereby contributing to realizing Vietnam's goal of training 50,000 semiconductor industry workers by 2030, Mr. Choi Joo Ho affirmed that the importance of Vietnam in the high-tech industry - an industry that Samsung is also focusing on investing and developing - is expected to become even more prominent.
“High-tech enterprises around the world are competing to find investment opportunities in Vietnam, so the demand for high-tech talent is also increasing dramatically,” Mr. Choi Joo Ho emphasized.
It is certainly not by chance that Mr. Choi Joo Ho said that. He saw the special interest of foreign investors in general, and Samsung Group in particular, in the Vietnamese market.
Samsung continues to invest about $1 billion in Vietnam every year, up from $1.2 billion last year. Meanwhile, Lam Research, one of the world’s leading suppliers of chipmaking tools, is looking to open a billion-dollar factory in Vietnam.
And according to recent information in Nikkei Asia, the "giant" Alibaba also wants to build a data center in Vietnam, with an estimated budget of more than 1 billion USD.
Source: https://baodautu.vn/thu-hut-du-tu-nuoc-ngoai-tang-ca-luong-va-chat-d214445.html
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