FDI commitment in the country in the first 10 months this year reached $25.7 billion, rising by 14.7 per cent year on year (YoY), while the cumulative FDI disbursement there was $18 billion, 3.2 per cent higher YoY, the World Bank said in its Vietnam Macro Monitoring for October 2023 report.
As manufacturing continued to be the magnet for FDI inflows, the industrial production index grew by 2.89 per cent in October due to the continued recovery of manufacturing exports, a news agency reported.
Both exports and imports of goods continued to recover, increasing by 1.6 per cent and 1.05 per cent month on month (MoM) respectively.
Public investment disbursement increased by 35 per cent YoY during the 10-month period, helping the government achieve 55 per cent of the annual planned budget. The figure was 46.5 per cent during the same period last year.
The Vietnamese government should consider extending the economic support programme to next year to allow investment projects to be fully implemented, the World Bank suggested.
It called for a strategic and well-prepared investment pipeline with a focus on green, resilient and regional infrastructure to boost sustainable development.
ALCHEMPro News Desk (DS)
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