After 30 years of Doi Moi, Vietnam has proven as an attractive destination for foreign investors (FDI). The presence of FDI enterprises has greatly contributed to the development of Vietnam’s economy.
Until March 2020, Vietnam has attracted 31.665 FDI projects with registered capital of 370,1 billion USD and implemented capital of 215,6 billion USD. Regarding FDI capital in the localities, Ho Chi Minh city 4,5 billion; Hanoi 34,64 billion USD (accounting for 9,4%) and Binh Duong province 34,61 billion USD.
In 33 years, on the average, FDI implemented 25% of social investment. The FDI sector’s contribution to GDP in 2019 is 20%; State budget remittance of the FDI sector accounts for 20,28% of domestic revenue and its contribution to GDP is 9,4% higher than the world.
However, the COVID-19 epidemic has changed the trend of FDI investment. Many investors plan to move their factories back to their home countries or move to a third country and Vietnam is one of the top choices./.
