FDI attraction forecast to recover in 2022
A recovery in the global investment flow will open up a bright future for Viet Nam's investment attraction, according to experts.
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| Illustrative image. (Photo: VNA) |
Nguyen Anh Duong, director of the general research department under the Central Institute for Economic Management (CIEM), said that the fact that Viet Nam is among countries with positive economic recovery in 2022 and in the recovery momentum of the Asian production network will make an important contribution to accelerating foreign investment attraction.
Thargbodee Serng Adichaiwit, deputy chair of the Thai Chamber of Commerce and Industry, said that Viet Nam’s economic growth can double in 2022 compared to that of this year, thus making Thai investors pour more capital in Viet Nam in the time to come.
Many Thai businesses want to invest in Viet Nam when the pandemic is under better control. They have faith in Viet Nam due to its large consumer market and commitments to improve its business climate, he stated.
Foreign direct investment (FDI) registered in Viet Nam reached 26.46 billion USD as of November 20, up 0.1 percent year on year, according to the Ministry of Planning and Investment.
Notably, the total additional registered capital stood at over 8 billion USD, an annual rise of 26.7 percent.
During the period, 14.1 billion USD was poured into 1,577 newly-licensed projects, up 3.76 percent in value but down 31.8 percent in volume over the same period last year.
The remaining investment capital was used for capital contribution and share purchases in a total 3,466 transactions.
Foreign investors landed investments in 18 sectors, with processing and manufacturing absorbing the largest amount of capital (over 14 billion USD or 53 percent), followed by power generation and distribution (over 5.7 billion USD), real estate (2.41 billion USD), and wholesale and retail sale (1.27 billion USD).
It is estimated that in the last month of the year, several billion USD in FDI will be added to Viet Nam’s total investment attraction this year.
The move in recent days has shown a more positive trend in FDI attraction. For example, LEGO Group recently signed an agreement to invest in an one-billion USD project in Binh Duong province.
In addition, within the framework of the visits to India and the Republic of Korea by National Assembly Chairman Vuong Dinh Hue, multi-billion-USD cooperation agreements were also signed, in which, Dai An Group in Hai Duong province signed a memorandum of understanding on the construction of a 500 million USD Pharmacy Park with India’s Sri Avantika Contractors Ltd.; and Saigon Telecommunications Technology Joint Stock Company (SAIGONTEL) and Ecologic Engineering Private Limited of India signed a cooperation agreement in the fields of infrastructure development, industry and innovation with an investment value of up to 4 billion USD.
(Source: VNA)
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