Foreign investment driven towards new breakthrough phase

Vietnam has so far drawn nearly 500 billion USD in registered FDI capital after nearly four decades of opening up its economy, with investment quality improvement considered a key task for a new breakthrough phase ahead.

According to the General Statistics Office, the total FDI in the first quarter of 2024 neared 6.17 billion USD, up 13.4% year-on-year.

The first three months also saw 4.63 billion USD worth of FDI disbursed, an annual rise of over 7% and the highest for the quarter over the past five years.

International investors are now shifting their focus towards high-tech and environmentally friendly sectors, which are conducive to Vietnam's sustainable development goals.

Recognizing FDI importance for economic growth, the Prime Minister has issued a decision approving the foreign investment cooperation strategy for 2021-2030.

The document highlights the attraction of high value-added foreign-funded projects with advanced technology, modern management, positive spillover effects, and connections to global production and supply chain.

According to the Ministry of Planning and Investment, with its potential and economic geographical position within the global supply chain, Vietnam has a great chance to attract and utilize foreign capital inflows to encourage rapid growth and sustainable development./.