Vietnam’s FDI projected to reap up to 38 bln USD in 2023

According to the Foreign Investment Agency under the Ministry of Planning and Investment, Vietnam is likely to attract 36-38 billion USD in foreign direct investment this year. The figure was over 22.7 billion USD in 2022.

The Foreign Investment Agency said essential factors for FDI to continue to prosper in 2023 include economic growth results in 2022 and endless efforts of authorities in improving the business investment environment, creating trust with investors, and effectively exploiting the advantages of free trade agreements.

Vietnam had adopted a selective approach to attracting foreign investment inflows which will contribute to the country's implementation of the sustainable development strategy.

Priority will be given to projects using new and green technologies, with high added value, modern corporate governance, and high spillover effects, ensuring technology transfer, and being integrated with global supply and production chains.

By the end of last year, Vietnam the country was home to more than 36,200 valid projects with a total registered capital of approximately 438.7 billion USD.

Among the 108 nations and territories pouring capital into Vietnam, Singapore ranked first with 6.46 billion USD. It was followed by the RoK and Japan./.