Bright prospects predicted in FDI attraction in 2022 and following years

Right from the end of 2021, experts already showed optimism about FDI attraction prospects of Vietnam in 2022 (Photo: VNA)

Hanoi (VNA) – Vietnam expects good results inforeign direct investment (FDI) attraction in 2022 and following years, withgood signals seen right from the beginning of this year, reported the Da tu(Investment) newspaper.

The first FDIproject receiving investment licence in Vietnam in this year is the Hai Lang liquefied naturalgas (LNG) power plant project in the central province of Quang Tri with totalinvestment of 2.3 billion USD.

This project alonehas made the FDI in January higher than the figure of 2 billion USD recorded inJanuary last year. Meanwhile, many other projects have receivedinvestment licences since the beginning of this year, including the addition of400 million USD to Goertek project in Nghe An and a 136 million USD Coca-Colaproject in Long An province.

Right from the endof 2021, experts already showed optimism about FDI attraction prospects ofVietnam in 2022.

The Foreign InvestmentAgency under the Ministry of Planning and Investment mentioned the plans ofmany giant firms such as Apple, Samsung, Nike, Adidas and Foxconn to expandoperations in Vietnam. Furthermore, the plans to invest 1 billion USD in LEGOfactory in Vietnam and Intel’s plan to add 2.5 billion USD to is projects inVietnam as well as Hanamicrom’s intention to invest in a semiconductor factoryin the country have also been revealed.

The agency commented that 2022 and following years will begood years for Vietnam with many large-scale and high quality projects fromworld leading firms.

67 percent of European businesses said that they are optimistic about the business climate in Vietnam (Photo: VNA)

Meanwhile, 67 percent of European businesses said that theyare optimistic about the business climate in Vietnam. At the same time, asurvey by Japan External Trade Organization (JETRO) showed that 55.3percent of Japanese said that they intend to expand business in Vietnam, andonly 0.3 percent plan to withdraw from Vietnam. According to the survey, whichwas conducted from August to September 2021, 56.2 percent of the firms expecthigher profits in 2022, and only 9.6 percent predicted lower profit.

According to Hirai Shinji, Chief Representative of JETRO inVietnam, the Japanese firms intending to withdrawfrom Vietnam still hoped to return to the country when things become better.

In reality, many other firms have come back to Vietnam sincethe Government adopted the strategy of safely and flexibly adapting to the COVID-19pandemic.

The business expansion of many other foreign firms inVietnam, including Samsung from the Republic of Korea, JAPEX from Japan and SriAvantika Contractor Ltd from India, is also expected to lead to many otheropportunities for Vietnam in FDI attraction./.

VNA