Many major companies from the US and the European Union (EU) are pouring more investment and building supply chains in Vietnam, he stressed, noting that this reflects Vietnam’s growing importance in global supply chains.
The Hai Phong Economic Zone Authority (HEZA) is setting its sights high for 2025, aiming to attract 3-3.5 billion USD in foreign direct investment (FDI), according to its head Le Trung Kien.
Leading global technology corporations are making strategic moves to shift supply chains, establish research centres, and expand investments in Vietnam, presenting a tremendous opportunity for the country to strengthen its semiconductor industry by adopting the strategy of "standing on the shoulders of giants."
Vietnam's industrial production has shown signs of recovery and positive growth despite ongoing challenges, the Ministry of Industry and Trade has assessed.
Foreign direct investment (FDI) inflows into Vietnam have gradually recovered with many large-scale investment projects following the COVID-19 pandemic as well as political and economic uncertainties in the world.
Experts have suggested adjusting foreign investment policies, making them match the evolution of the global economy, amidst the shrinking FDI inflows in the first half of this year.
Despite a 4.3% reduction in the volume of foreign investment inflows into Vietnam in the first half of the year, experts said there are positive signs when looking into the structure of the investment.
Although the real estate sector has suffered a fall in foreign direct investment (FDI) attraction, experts are still optimistic about its prospects of the sector, especially the industrial segment which is described as a bright spot.
In 2022, Vietnam's GDP growth revved up to 8.02%, the highest in 15 years, symbolising a strong recovery from the COVID-19 pandemic, while the Government forecasts that in 2023 the economy will continue to grow at an impressive 6.5%.
The global corporate minimum tax is unlikely to impede Vietnam’s FDI inflows given the fact that tax incentives are not the primary attraction for setting up a factory in Vietnam, said Michael Kokalari, chief economist at investment fund VinaCapital.
Investors have paid greater attention to sustainable construction in real estate, especially green office, to satisfy the new requirements of tenants, according to experts from Savills Vietnam.
Foreign investors poured 23.74 billion USD in new projects, existing projects, and in contribution of capital and share purchases as of October 20, up 1.1 percent year-on-year, reported the Ministry of Planning and Investment.
As of September 20, FDI inflows into Vietnam increased by 4.4 percent year-on-year to 22.15 billion USD, reported the Foreign Investment Agency under the Ministry of Planning and Investment.
Recent announcements made by foreign investors on additional investment to expand production in Vietnam reflect their trust in Vietnam’s prospects for economic recovery, reported the Dau tu (Investment Review) newspaper.
Despite a new outbreak of COVID-19 in Vietnam, the industrial property segment saw positive signs with new industrial zones established and key industrial projects beginning operations, according to a report by Savills Vietnam.
Vietnam is making rapid strides in shifting from fossil fuels to clean energy in the post-COVID-19 world, according to a recent article published by the website asiatimes.com.
The Ministry of Construction (MoC) believes the domestic real estate market has overcome the most difficult period due to positive developments in the market as well as the whole economy in the fourth quarter of 2020.
In recent years, many investors from developed countries have gradually turned to Vietnam, with 2021 continuing to be a promising year in attracting foreign direct investment (FDI).
The Republic of Korea (RoK) was the top investor in education in Vietnam in the first 11 months of this year with 8.2 million USD, or 57 percent of the total FDI inflows in the sector.
