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FDI ATTRACTION

Courage of their convictions

The growing confidence among foreign investors was evident
in the volume of FDI disbursement in the opening four months
of the year, which hit a five-year record

By ANH NHI

n estimated $6.28 billion in FDI alone, disbursement rose 9.6 per cent year- This “leap” in newly-registered capital
capital was disbursed in the first on-year, demonstrating that Vietnam is not at all surprising, as groups from
A four months of 2024, a year-on- remains an attractive destination for foreign countries such as the US, China, South
year increase of 7.4 per cent and a five- investors due to its prospects for economic Korea, and Japan paid working visits to
year record for any four-month period, growth and business opportunities. Vietnam in 2023 and early 2024 in search
figures from the General Statistics Office Foreign investor confidence is not only of opportunities in manufacturing and
(GSO) show. shown in the volume of FDI disbursement. processing and high-technology, according
GSO figures also reveal a strong increase to Mr. Nguyen Van Toan, Deputy Chairman
Rapid increase in new capital in newly-registered capital in the opening of Vietnam’s Association of Foreign Invested
Disbursement of FDI in the first four four months of the year. As of April 20, Enterprises (VAFIE). Many projects were
months between 2020 and 2024 stood at 966 new FDI projects had been granted granted investment licenses directly as a
$5.15 billion, $5.5 billion, $5.92 billion, investment licenses this year, with total result of these visits.
$5.85 billion, and $6.28 billion, respectively. capital of $7.11 billion, up 28.8 per cent Total newly-registered capital, addi-
The figure has risen by a stable 7-10 in number and 73.2 per cent in value tional capital, and capital contributed to
per cent since early this year. In January year-on-year. purchase shares or buy capital contributed

38 Vietnam Economic Times May 15, 2024 en.vneconomy.vn