Vietnam sees 11.5% increase in FDI inflows

Hanoi attracted USD1.28 billion FDI in the first 10 months of 2022

VnExpress reports that Vietnam is projected to see an eight percent economic growth rate in 2022, up from the previous target of six to 6.5 percent. 

Exports are expected to go up 9.5 percent to USD368 billion, and FDI inflows increasing 6.4 to 11.5 percent to USD22 billion.

The total newly-registered capital, adjusted capital, and capital contribution and share purchase stood at USD22.5 billion from January to October, down 5.4 percent YoY, according to the Vietnam Investment Review.

By late October, there had been 2,997 capital contributions and purchases of shares, worth approximately USD4 billion, an increase of 4.5 percent from 2021.

Furthermore, foreign investors invested in 18 out of 21 economic sectors during this time. Among them, processing and manufacturing received USD12.9 billion in foreign investment.

A total of USD3.9 billion was invested in real estate, followed by USD928 million in electricity production and distribution, and USD835 million in scientific and technological activities.

Meanwhile, Hanoi attracted USD1.28 billion FDI in the first 10 months of 2022, an increase of 27 percent YoY, reported the city Department of Planning and Investment.

VietnamPlus notes that it saw 283 new projects with a combined capital of USD181.1 million USD. In October alone, the city drew 21 new FDI projects worth USD2.7 million. Meanwhile, an additional USD237.1 million was inserted into 22 projects in progress. 

More: Vietnam’s thriving industrial real estate market sees an influx in FDI

The month also saw foreign investments of USD20 million in capital contribution and share purchase transactions.

As part of its investment attraction and industrial production development plans, the city plans to establish two to five new industrial parks from 2021 to 2025.

A total of 3,204 hectares of industrial area is expected to be occupied by 159 industrial clusters by 2030. To meet investor demand, the city is also fast-tracking the construction of new clusters along with the operating ones.

The Property Report editors wrote this article. For more information, email: [email protected].