Tiếng ViệtIn the context of slowing international investment flows, Vietnam is still considered a bright spot in attracting FDI. By the end of 2024, the total newly registered, adjusted, contributed, purchased shares and contributed capital foreign investment capital reached nearly 38.23 billion USD, down 3% compared to 2023.
1. A series of large corporations entered Vietnam
In 2024, a series of large corporations invested in Vietnam such as: Amkor Technology Group invested 1.07 billion USD, LG Group invested 1 billion USD, Hyosung Group invested 700 million USD in the Bio-BDO (Butanediol) bio-fiber factory project, Talway Group invested 700 million USD, Capital Land invested 661 million USD, Foxconn invested 551 million USD in the project on smart entertainment products and smart system equipment,…
In addition, dozens of foreign business delegations visited and promised to invest in Vietnam. Notably, Nvidia’s Chairman returned to Vietnam last December and officially signed a cooperation agreement with Vietnam, by establishing an AI research and development (R&D) center and an AI data center. In addition to Nvidia, many large enterprises in the electronics and semiconductor industries also plan to expand their investment in Vietnam. Specifically, SpaceX plans to invest 1.5 billion USD in Vietnam, while 15 US companies, including semiconductor companies, said they are ready to invest 8 billion USD in clean energy infrastructure in Vietnam.
Notably, Vietnam’s familiar partners, Korean enterprises, also announced a series of expansion plans this year, such as: Hyosung (Korea) has invested 3.5 billion USD in Vietnam and plans to invest an additional 2 billion USD; Samsung plans to invest an additional 1 billion USD each year in Vietnam. Samsung Display also signed a memorandum of understanding to develop a display and electronic components project in Bac Ninh worth 1.8 billion USD.
In the wave of diversifying supply chains and reducing dependence on semiconductor chips from China and Taiwan (China), many EU semiconductor companies are looking for alternative partners in the Asian region, of which Vietnam and India are two potential candidates. Alibaba plans to build a data center in Vietnam, Sembcorp Group’s leaders pledged to continue investing heavily in VSIP, and Google also confirmed the opening of a Google Vietnam company.
With these positive signals, the Foreign Investment Agency, Ministry of Planning and Investment, said that although the total registered capital decreased slightly by 3%, the significant increase in adjusted capital (50.4%) and the number of new projects (1.8%) in 2024 showed strong confidence of foreign investors. In particular, many large projects in the fields of semiconductors, energy (production of batteries, photovoltaic cells, silicon bars), manufacturing of components, electronic products, and products with high added value have been newly invested and expanded, contributing to promoting economic restructuring.
In addition, this area continues to record important contributions in import and export activities. Exports, including crude oil, are estimated at nearly 290.8 billion USD, up 12.2% compared to 2023, accounting for 71.8% of the country’s total export turnover. Excluding crude oil, exports reached more than 289 billion USD, up 12.4%, accounting for 71.4% of the total turnover. On the other hand, imports reached nearly 241.6 billion USD, up 15.5%, accounting for 63.4% of the total import turnover. Thanks to that, the trade surplus was nearly 49.2 billion USD including crude oil and 47.5 billion USD excluding crude oil, helping to offset the trade deficit of more than 25.4 billion USD of the domestic enterprise sector, bringing the whole country to a trade surplus of 23.8 billion USD.
2. Successful model
With a record level of capital disbursement, Vietnam is considered a successful model in attracting FDI thanks to its increasingly improved investment environment and institutions, stable political foundation and relatively high economic growth foundation. In particular, in the context of the economy facing many external challenges, it shows the resilience and attractiveness of Vietnam as an investment destination and trade partner.
Specifically, in assessing the macroeconomic situation of Vietnam, HSBC Bank forecasts that in 2025, this capital flow into the manufacturing sector will continue to grow. In particular, the recent visit of General Secretary To Lam to the US has opened up investment intentions from many companies, typically Meta or Shunsin – a subsidiary of Foxconn, which is said to have applied for an investment license of 80 million USD to produce integrated circuits in Bac Giang province, showing that production capacity in Vietnam is improving.
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