The process of domestic businesses absorbing external technology is faced with weaknesses due, in part, to the low ratio of foreign-invested high-tech projects in the country.

Vietnam aims to raise the proportion of registered foreign investment flows from certain countries and territories to over 70 percent in the 2021 - 2025 period and 75 percent in 2026 - 2030.

The southern province of Binh Duong lured 2.5 billion USD worth of foreign direct investment (FDI) in the first five months of 2022, rising to the top of localities nationwide.

With strategic vision, many FIEs in Vietnam have re-oriented their production and business activities, striving for green and sustainable development.

The Ministry of Planning and Investment has requested localities to report the execution of large foreign direct investment (FDI) projects that need significant investment and use large land lots.

JP Morgan Chase on Thursday announced a capital injection of US$123 million into its branch entity in HCM City, bringing the firm’s total capital investment into Viet Nam from $77 million to $200 million, or VND4.6 trillion.

The nation continues to pay close attention to and attaches great importance to improving the investment environment and creating favourable conditions in which foreign enterprises can conduct long-term production business in the country.

With its advantages and thorough preparation in terms of infrastructure, transport and human resources, after the COVID-19 pandemic is put under control, the key southern economic region remains the leading destination for FDI flows.

Despite good performance in foreign investment attraction over the past year, the number of high-tech projects from developed countries investing in Vietnam is modest as compared to the incentives set forth.

As Vietnam strongly promotes private investment in transport infrastructure with a number of potential initiatives in the pipeline, more openings may become available for American investors.

As Vietnam is striving to attract more private and foreign investment in the healthcare sector, US pharma giants are continuing to reinforce moves to expand in Vietnam to tap into the growing healthcare demand in the country.

Investment from the United States is expected to flow more strongly into Vietnam in the fields of digital economy, green energy, and healthcare.

Vietnam has witnessed big strides with the major contributions from foreign investment, while the government vows to continue creating the best conditions for investors to perform in the country.

Vietnam’s BB Group and the US’s Quantum Group will jointly develop a gas industry centre and a seaport in Quang Tri, according to an agreement signed by the two corporations and the provincial People’s Committee in Dong Ha city on April 25.

A late adjustment in figures means Vietnam’s foreign investment results for 2021 are even brighter than initially reported.

According to latest data by the Foreign Investment Department, as of March 20, 2022, registered foreign investment capital into Vietnam reached over US$8.9 billion, or 87.9% of the amount compared to the same period in 2021.

The number of foreign-invested (FDI) firms doing business at a profit in 2020 accounted for only 40.2%, while 56% reported losses.

Driven by rising tech acceleration, foreign-invested manufacturers in Vietnam are facing challenges in hiring the needed talent for growth, with digital skills being among the highest demands.

The recovery of all tourism activities after more than two years of being ravaged by COVID-19 has also opened up an opportunity to attract foreign investment into the tourism sector, especially resort real estate.

In the year to March 20, Vietnam had attracted US$8.91 billion in foreign investment, down 12.1% year-on-year. However, the disbursed foreign investment had reached the highest level since 2018, according to the General Statistics Office.