FDI disbursement up 10.2% in first seven months of 2022
FDI disbursement in Vietnam reached 11.57 billion USD in the first seven months of this year, up 10.2% compared to the same period last year and over 1.3 percentage point against the first half of this year.
The country raked in 15.41 billion USD in FDI during the period, a year-on-year decline of 7.1%, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
Newly-registered investment totalled 5.27 billion USD, down 43.5% year-on-year. In contrast, extra capital injected into existing projects surged by 59.3% to 7.24 billion USD; and capital contributions and share purchases advanced 25.7% to 2.58 billion USD.
Newly-licensed capital has yet to rebound after disruption caused by the COVID-19 control measures, explained FIA Director Do Nhat Hoang. Meanwhile, many major projects have received additional investment, he said, adding that the extra capital accounted for up to 62.6% of the seven-month FDI.
The FIA also announced that processing and manufacturing lured the largest share of FDI, more than 10 billion USD, accounting for 64.3% of the total.
Vice Chairman of the Vietnam Association of Foreign Invested Enterprises (VAFIE) Nguyen Van Toan held that Vietnam’s strengths of favourable geographic location, improving business and investment environment and better infrastructure system have made it attractive among foreign investors.
He advised localities to further develop the quality of human resources to become ready for FDI projects with high technologies from developed countries. They should also offer better policies to encourage foreign investors, while strengthening the connections between FDI firms and local enterprises, thus enhancing the value and efficiency of FDI projects in Vietnam.
