Vietnam attracted US$24.78 billion in foreign direct investment in the first nine months of 2024, up 11.6% year-on-year.

Containers are transported at Cat Lai Terminal in Ho Chi Minh City. Photo by VnExpress/Thanh Nguyen

Notably, $4.26 billion worth of FDI flowed into Vietnam in September alone, the highest monthly figure this year, accounting for 17.2% of the nine-month total, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

A large amount of foreign capital were directed toward large-scale projects in semiconductors, energy, electronic components, and high-value-added products between January and September.

Foreign investors channeled funds into 18 out of 21 economic sectors, with manufacturing and processing leading with nearly $15.64 billion, or 63.1% of the total registered FDI, a slight year-on-year drop of 0.4%.

Real estate followed with over $4.38 billion, more than double the figure in the same period last year. Electricity production and distribution, and wholesale and retail saw investments of approximately $1.12 billion and $920 million, respectively.

By the end of September, 98 countries and territories had invested in Vietnam. Singapore topped the list with $7.35 billion, followed by China with over $3.2 billion. Other major investors included the Republic of Korea (RoK), Hong Kong, and Japan.

China topped the list in the number of new projects, accounting for 29.3% of the total, while RoK led in terms of capital adjustments and share purchases.

Foreign capital went to 55 provinces and cities across Vietnam in the first nine months. The northern province of Bac Ninh received the most, at $4.5 billion, up 3.47 times from a year ago.

The foreign sector’s exports were worth $217.4 billion, up 14.1% year-on-year and accounting for 72.1% of Vietnam’s total exports.

VNA (Source: e.vnexpress.net)