Vietnam’s FDI expected to hit US$39-40 bln this year

The Foreign Investment Agency (FIA) under the Ministry of Planning and Investment said in the first nine months of this year, the total registered foreign investment capital reached more than US$24.78 billion, an increase of 11.6% over the same period in 2023.

Vietnam attracted more than US$4.26 billion in FDI, accounting for 17.2% of the total registered capital in nine months.

In September alone, Bac Ninh, Binh Duong, and Dong Nai provinces announced their development planning and conducted investment promotion activities. At those events, many projects were granted new and expanded investment certificates.

Therefore, the total registered investment capital, or the additional investment capital alone, reached the highest level since the beginning of the year.

According to the FIA, in September 2024, three major projects of Amkor, Luxcase and Advance Tyre Vietnam Ltd Co adjusted investment capital, contributing to bring additional investment capital in nine months to more than US$7.64 billion, an increase of 48.1% over the same period.

Besides, Vietnam’s FDI attraction also saw a bright spot with an improved quality of the FDI flow. According to the FIA, in the first nine months, major projects in the fields of semiconductors, energy (production of batteries, photovoltaic cells, silicon bars), production of components, electronic products, and products with high added value have received additional investment.

During the period, the total registered foreign investment capital reached more than US$24.78 billion, up 11.6%, and realised capital reached US$17.3 billion, up 8.9% over the same period in 2023.

Many technology corporations are showing interest in investing in Vietnam. At the Innovate Vietnam 2024, a series of leading global technology corporations, such as NVIDIA, Qualcomm, Intel, AMD, Samsung, and Meta made their presence known.

At the event, the leaders of the corporations committed to investing and supporting Vietnam in developing the fields of semiconductors, artificial intelligence (AI), and innovation.

Raymond Teh, vice president of NVIDIA Corporation said that NVIDIA will help accelerate innovation in Vietnam's industries.

Meanwhile, President of Meta Group's Global Affairs Nick Clegg said that Meta will produce its newest mixed reality headset, the Quest 3S, in Vietnam in 2025, a move that will create 1,000 jobs.

Longtime Vietnam investor Samsung Group also planned to invest another US$1.8 billion in an LED screen factory in the northern province of Bac Ninh.