(MPI) - In 2024, the total new and additional investments, and capital contributions and share purchases of foreign investors reached 38.23 billion USD, a year-on-year rise of 3%.

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A total of 3,375 new projects worth 19.7 billion USD were approved, up 1.8% in number and down 7.6% in capital, as compared to the same time last year.

Meanwhile, 1,539 projects saw capital adjustment with a total of 14 billion USD, up 11.2% and 50.4% year-on-year, respectively.

Foreign investors also spent about 4.54 billion USD into 3,502 capital contribution and share purchase, down 48.1% and 2.4% as compared to the previous year, respectively.

Among 18 of Vietnam’s 21 economic sectors having FDI inflows, the processing and manufacturing industry led with 25.58 billion USD, making up 66.9% of the total and up 1.1% from the same period last year.

Followed were real estate with 6.31 billion USD, accounting for 16.5% of the total and up 18.8% year-on-year, and power production and distribution and wholesale and retail, and with 1.42 billion USD and 1.41 billion USD, respectively. Other sectors were construction, warehousing, and information and communication

It is also worth noting that the wholesale and retail was the sector with the largest number of new projects (34.7%) and capital contributions and share purchases (40.9%). The processing and manufacturing industry led in additional capital (64.4%).

Vietnam attracted investments from 114 countries and territories in 2024, with Singapore topping the list, having nearly 10.21 billion USD, making up of 26.7% of the total and growing 31.4% year-on-year. South Korea came second with 7.06 billion USD, securing 20.7% of the total capital, and up 37.5% as compared to the previous year. Followed by China, Hong Kong (China), Japan and so on.

Regarding the number of projects, China led in terms of number of new projects (accounting 28.3%); South Korea led when it comes to turns of capital adjustment (22.8%) and capital contributions and share purchases (25.2%).

The foreign businesses invested in 55 provinces and cities of Vietnam this year. Bac Ninh emerged as the top destination, with 5.12 billion USD, making up 13.4% of the total and 2.8 times higher than the 2023 figure. Hai Phong ranked second position with more than 4.94 billion USD, accounting 12.9% of the total and up 42.4% year-on-year. Ho Chi Minh City ranked third with 3.04 billion USD, accounting for 8% of the total and a 49.4% year-on-year decrease. Followed by Quang Ninh, Ha Noi, Binh Duong, and so on.

Ho Chi Minh City was the best performer in attracting new projects (or 42%), additional investment (15.4%) and capital contributions and share purchases (69%).

The country’s FDI disbursement reached about 25.35 billion USD, an annual increase of 9.4%.

Export, including crude oil, generated at about 290.9 billion USD, a year-on-year growth of 12.3%, making up 71.7% of export turnover. Export, excluding crude oil, was over 289.2 billion USD, an increase of 12.5% from a year earlier, accounting for 71.5% of the country’s export turnover.

Imports of the foreign-invested sector attained 241.6 billion USD, an increase of 15.1% over the previous period and accounting for 63.2% of the nation’s import turnover.

The FDI sector saw a trade surplus of 50.3 billion USD including crude oil, and more than 48,6 billion USD excluding crude oil in 2024, while the domestic sector had a trade deficit of 25.5 billion USD./.

Bao Linh

Ministry of Planning and Investment