Despite a slight 3-per cent YoY drop in total FDI commitments worth $38.23 billion, the country recorded positive indicators in several fields.
A total of 3,375 new projects worth $19.7 billion were approved last year—up by 1.8 per cent and down by 7.6 per cent YoY respectively.
FDI inflows targeted 18 of Vietnam’s 21 economic sectors, with the manufacturing and processing industry taking the lead with $25.58 billion.
A hundred and fourteen countries and territories poured capital into the country. Singapore topped the list with $10.21 billion, followed by South Korea, China, Hong Kong and Japan.
Bac Ninh was the top FDI destination, attracting $5.12 billion—2.8 times higher than the 2023 figure. Hai Phong and Ho Chi Minh City secured the second and third spots, attracting $4.94 billion and $3.04 billion respectively, according to a domestic news agency.
The FDI sector contributed around $20.49 billion to the state budget and was a key driver of exports, generating an estimated $290.8 billion in export turnover—a YoY growth of 12.2 per cent.
The sector accounted for 71.8 per cent of Vietnam’s total exports and posted a trade surplus of nearly $49.2 billion, offsetting the domestic sector’s trade deficit of $25.4 billion, leading to the nation’s trade surplus of $23.8 billion last year.
ALCHEMPro News Desk (DS)
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