Hanoi attracts nearly 1.7 billion USD in FDI in 2022

January 04, 2023 | 11:35

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Hanoi attracted 1.69 billion USD in foreign direct investment (FDI) last year, still among the localities leading the nation in this field.

Hanoi attracts nearly 1.7 billion USD in FDI in 2022

Hanoi attracts 1.69 billion USD in foreign direct investment in 2022 (Photo: VNA)

Hanoi – Hanoi attracted 1.69 billion USD in foreign direct investment (FDI) last year, still among the localities leading the nation in this field.

The figure represents a year-on-year rise of 10.3 per cent, according to the city’s Statistics Office.

In the year, there were 365 newly-registered projects totaling 233 million USD, and 202 projects that had their capital adjusted with a combined investment of 834 million USD. Foreign investors also spent 625 million USD on contributing capital to and purchasing shares of existing ones.

Foreign capital was mainly poured into import-export activities, goods distribution, construction, information technology, telecommunications, processing, and manufacturing.

According to the Hanoi Promotion Agency (HPA), after more than two years of disruptions caused by the COVID-19 pandemic, in 2022, the city implemented a lot of trade promotion activities both inside and outside the country, with priority given to such key markets as Japan, the Republic of Korea, Singapore, Taiwan (China), China, the US and the European Union.

Most recently, a working delegation led by Vice Chairman of the municipal People’s Committee Nguyen Manh Quyen paid visits to the US and Belgium to step up trade promotion with traditional partners and seek new ones.

For the 2021-2025 period, Hanoi has set a target of attracting 30-40 billion USD in foreign investment, and disbursing from 20 to 30 billion USD.

The city is giving priority to projects in urban infrastructure, smart city building, supporting industry, information technology, tourism, finance-banking, human resources training, and hi-tech agriculture.

FDI inflows slightly decrease in 2022

This year, the total foreign direct investment (FDI) inflows reported a decrease of 11 per cent, while disbursement saw an increase of 13.5 per cent compared to last year.

Lack of quality industrial land blamed for FDI strife

Many localities such as Dong Nai, Danang, and Quang Ninh face aggravation in reaching foreign-invested capital attraction targets for the whole year due to a lack of land.

Vietnam attracts 27.72 billion USD in FDI in 2022

Vietnam attracted a total of 27.72 billion USD in foreign direct investment as of December 20, equal to 89 percent of the figure of the same period last year, according to the Ministry of Planning and Investment.

By VNA

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