Business

FDI firms power Vietnam’s exports

Foreign firms contributed 259.95 billion USD or 73.1% of Vietnam’s total export revenue in 2023, statistics show.
FDI firms power Vietnam’s exports ảnh 1The FDI sector plays a crucial role in the national economy. (Photo: VNA)
Hanoi (VNA) – Foreign firms contributed259.95 billion USD or 73.1% of Vietnam’s total export revenue in 2023, statisticsshow.

The sector has played a crucial role in the nationaleconomy, as reflected through its export turnover, job generation, and theformation of supply chains in such key industries as electronics, machinery,garment-textile and footwear.

Notably, 2023 marked the eighth consecutiveyear Vietnam had run a trade surplus, reaching a record high of 28 billion USD,with the FDI sector contributing a whopping 90% in many major areas.

Specifically, the firms accounted for 99.6% in phones,over 98% in computers, 93% in machinery, and more than 60% in garments-textiles.

Vietnam has been named among the top 20 economieswith the largest trade scale globally, significantly contributed by theFDI sector. The large FDI influx has created a foundation to advance thecountry on the global trade map.

Last year, with 275.9 billion USD, the sector's export earningsequated to 74% of the country’s accumulative export revenue./.
VNA
#FDI firms #export turnover #job generation #trade surplus #export earnings #Vietnam #VietnamPlus #Vietnam news
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