Vietnam’s FDI attraction up 38.6% in two months

HANOI: Vietnam attracted US$4.29 billion in foreign direct investment (FDI) in the first two months of 2024, a year-on-year surge of 38.6%, reported the state news agency (VNA). Notably, several large-scale projects were granted investment registration certificates in February, such as the Trina Solar Cell project in Thai Nguyen province and the Gokin Solar Hai Ha Vietnam project in Quang Ninh. In the southern key economic region, a series of FDI projects were licenced in labour-intensive industries and those that use new and environmentally friendly technologies. Dong Nai topped the localities with 27 foreign-invested projects worth US$439 million. Vietnam's largest investment partners in the last two months remained traditional investors from Asia, including Singapore, Hong Kong (China), Japan, China, and the Republic of Korea (RoK), which accounted for 77% of new investment projects and nearly 85.5% of the total registered investment capital nationwide. Meanwhile, although American investors re gistered 12 new investment projects in Vietnam, the total registered capital amounted to only US$3.22 million. European investors have not yet boldly poured capital into Vietnam. The UK led European investors with a registered capital of US$36.2 million in Vietnam. Source: Emirates News Agency