Business

Higher-quality FDI flows expected to pour into Vietnam

It is forecast that higher-quality FDI will pour into Vietnam in the near future, mostly in clean energy, hi-tech agriculture and mechanical engineering.
Higher-quality FDI flows expected to pour into Vietnam ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA) – It is forecast that higher-quality FDI will pour intoVietnam in the near future, mostly in clean energy, hi-tech agriculture andmechanical engineering.

Asmany as 15.4 billion USD in FDI was disbursed in the first ninemonths of 2022, up 16.2% year on year and 5.7 percentage points from the figure in the pasteight months.

Asof September 20, the total new, adjusted and contribution of capital for sharepurchases by foreign investors topped 18.7 billion USD, down 15.3% from the sameperiod last year, reported the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

In the nine months of this year, there were 1,355 new licensed projects with a totalcapital of 7.12 billion USD, up 11.8% in volume but down 43% in value.

FIA attributed the decrease in capital to limited travelling during COVID-19 pandemic at thebeginning of this year, making it difficult for foreign investors from flying to Vietnamto seek opportunities. The geo-political conflict in Europe, mounting inflationpressures, and disruption in global supply chains have also badly affected majoreconomies’ outbound capital flows, especially Vietnam’s investment partners.

Meanwhile,adjusted capital and contribution of capital for share purchase recordedincreases. Up to 769 projects were permitted to adjust capital worth 8.3 billion USD in total, marking a13.4% rise in volume and 29.9% increase in value. Foreign investors made 2,697 capitalcontributions to buy shares with 3.28 billion USD, down 4.7% in volume and up1.9% in value.

Ministerof Planning and Investment Nguyen Chi Dung affirmed many times that in order towelcome new investment flows, Vietnam needs to stay ready in terms of land, humanresources, infrastructure while keep improving its institutions andbusiness environment.

Accordingto the minister, it is necessary to launch investment promotion campaigns to assureinvestors that Vietnam is a safe and trustworthy investment destination.

State management agencies, localities andbusiness associations need to evaluate opportunities and challenges, businessand market trends to offer consultancy to member enterprises, he said./. 

VNA
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