Hanoi (VNA) 🍃- According to leading officials of the Ministry of Planning an Investment, in the first two months of this year, registered capital reached 4.29 billion USD, an increase of 38.6% and the highest year on year. This means that foreign investors are interested in Vietnam.

Macroeconomic stability has been maintained, inflation controlled, growth accelerated, and major balances ensured. There has also been a 40% increase in foreign direct investment (FDI) attraction in the first two months of 2024. All these were announced at a press conference held by the Government Office on March 2 in Hanoi.

Increase in new orders

Minister – head of the Government Office Tran Van Son said that in the past two months, most of the sectors recorded better achievements than those of the same period in 2023. Agricultural production obtained stable development, industrial production increased by 5.7%, the total retail sale of commodities and consumption services rose by 8.1%, and the number of international visitors rose to over 3 million or an increase of 68.7%. It is noteworthy that the Purchase Management Index (PMI) in February was 50.4 points while that of January was 50.3 points, manifesting the improvement in the production sector, in which both output and number of new orders increased. In the first two months of this year, there were 22,100 new enterprises established, an increase of 12.4%. Some 19,000 firms resumed operation, increasing by 4.4%, raising the total of firms joining the market to more than 41,000, or 8.5% higher year on year. Total import-export value in the period increased 18.6%, with exports rose by 19.2%, imports 18%, and trade surplus registered at 4.72 billion USD. Minister Son highlighted that FDI attraction reached 4.29 billion USD, rising by 38.6%, and this manifests a hike in the trust of foreign investors on Vietnam’s socioeconomic development.

3 focuses to attract FDI

On FDI attraction and measures to create breakthroughs to lure high-tech firms, Deputy Minister of Planning and Investment Tran Quoc Phuong said FDI attraction in the first half of last year was low but it saw a vigorous rise in the second half. Phuong said the root cause of the rise are Vietnam’s political, security, and macroeconomic stability, supported by the outcomes of the high-level diplomatic activities. A special point is that investors value potential and prospects of the Vietnamese economy, he added. On the measures to attract major projects and investors, Phuong said foreign investors are highly attentive to infrastructure and land. For major projects, the demand for land is huge, that is why the measure is to focus on the rolling out of guiding documents for the implementation of the freshly-promulgated land law, the official said. Another factor is the training of the human resources for the projects in the fields of innovation and semiconductor chips. Next is the institutionalisation work, and Phuong said the Government has submitted to the National Assembly breakthrough policies conducive to growth and investment attraction, such as provisions on entry and exit and visa which have create a positive impact in the minds of foreign investors coming to Vietnam. Phuong also said it is even more important to provide incentives andmaximum facilitation for large investors to implement major projects in Vietnam./.