Out of the 21 national economic sectors, foreign investors invested heavily in 18 industries during the first half of 2022
The Ministry of Planning and Investment (MPI) recently announced that Vietnam reached more than USD14 billion in foreign direct investment (FDI) in the first six months of 2022, according to VietnamPlus.
Out of the 21 national economic sectors, foreign investors invested heavily in 18 industries during the first half of 2022. With a combined investment of almost USD8.84 billion, or around 63 percent of the total registered investment capital, the processing and manufacturing sector remained on top.
The property market came in second with more than USD3.15 billion in total investment capital, or 22.5 percent of total registered investment capital.
During the first six months of this year, 84 countries and territories invested in Vietnam. Over USD4.1 billion in investment capital was invested by Singapore, accounting for more than 29.5 percent of total investment capital in Vietnam.
Second in terms of investment capital was South Korea with over USD2.66 billion or approximately 19 percent of the total.
Additionally, Vietnam’s property sector is becoming increasingly popular among South Korean investors, as reported by Viet Nam News.
Andrew Lee, Senior Manager of Korean Desk Business Development at Savills Vietnam mentioned that the firm expects Korean real estate projects to increase this year because of the influx in investors, saying “The COVID-19 pandemic limited South Korean investors as they could not physically visit properties. However, international flights resumed in March, which means investors can now travel freely to Việt Nam and expand their business activities.”
This year saw several notable investments, including Lotte E&C’s USD900 million investment into Lotte Eco Smart City Thủ Thiêm, and YSL Group 300-hectare industrial project in Nam Bình Xuyên, Vĩnh Phúc Province.
A better investment climate in Vietnam encourages South Korean investors to boost capital inflows into the nation’s real estate market. South Korea, with 112 new projects in 2022, has the highest share with 19.4 percent. In addition, it also contributed the most additional capital.
The Property Report editors wrote this article. For more information, email: [email protected].
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