The Hanoi People's Committee will organise a conference to open up a dialogue with foreign investment enterprises in August this year.

The northern port city of Hai Phong attracted 647 million USD in foreign direct investment (FDI) in the first five months of 2024, up 11% year on year, solidifying its position as one of the biggest recipient of FDI nationwide.

Foreign investors have net sold Vietnamese stocks on HoSE with a value of 58 trillion VND (over 2.3 billion USD) since the beginning of 2023, indicating a prevailing trend of net selling in the Vietnamese stock market.

Hanoi attracted US$1.12 billion in foreign direct investment in the first five months of 2024.

More than 11.07 billion USD in foreign direct investment (FDI) was funneled into Vietnam during January-May, up 2% against the same time last year, according to the Ministry of Industry and Trade (MoIT)’s Foreign Investment Agency.

Criteria for appraising and assessing the quality of FDI projects at the provincial level were announced at a conference on Thursday in Hanoi.

Vietnam has been overly reliant on FDI businesses and the country needs to pivot towards a comprehensive industrial ecosystem to support the development of domestic industries, said industry leaders and policymakers.

As of May 2024, the southern province of Binh Duong has attracted nearly 4,300 projects with a total investment capital of nearly 40.6 billion USD from 65 countries and territories, ranking third in the country after Ho Chi Minh City and Hanoi.

Foreign investment in the first four months of this year reached an estimated US$6.28 billion, a five year high.

Vietnamese suppliers have been becoming more reliable partners to numerous FDI large businesses in the country in recent years, said industry leaders and economists.

Several growth trends emerged in Vietnam’s investment landscape last year, including high-tech, Chinese investment, and cooperation with Japan.

The rate of entry into Vietnam of small FIEs is decreasing, while those with a workforce ranging between 501 and 1,000 almost doubled between 2022 and 2023.

Nearly 40 years since opening the doors to the wider world, Vietnam’s development has witnessed great strides with major contributions from foreign investment, which is now leaning into new priorities such as semiconductor manufacturing and AI.

Vietnam’s industrial real estate industry is expected to continue its strong growth trajectory due to foreign direct investment (FDI) inflows benefiting from tax incentives.

Under the plan, the focus will also be on developing the petrol stations along new roads and in new urban areas with an appropriate roadmap to reduce the number of small-scale and inefficient stations.

Alibaba has initiated plans to build a data hub in Vietnam in order to store data locally in compliance with legal requirements, according to details given by Nikkei Asia.

The flow of foreign direct investment (FDI) into the Vietnamese garment and textile sector has rebounded thanks to the country’s sound investment climate and abundant workforce as well as its open economy, according to insiders.

As the year 2024 is expected to witness the start of the fourth wave of foreign direct investment (FDI) to Vietnam, localities nationwide are getting ready to absorb foreign capital flows.

According to the General Statistics Office, the total FDI in the first quarter of 2024 neared 6.17 billion USD, up 13.4% year-on-year.