09.02.2022, 07:22

Vietnam has emerged as as safe destination for global investors

Vietnam has emerged as as safe destination for global investors

More Global manufacturing giants have expanded their presence in Vietnam, including Foxconn and Pegatron.

In 2021, Vietnam attracted a total foreign investment of 31.15 billion dollars, up 9.2 percent year on year, according to the office.

The data showed, Vietnam earned a record 57.5 billion USD from exporting phones and components in 2021, up more than 12% against the previous year. One of the largest phone manufacturers Samsung Vietnam recorded a revenue of 74.2 billion USD, a 14% year-on-year increase.

Meanwhile, contract factories in Vietnam manufactured 51% of total Nike brand footwear last year and 40% of Adidas footwear were made in Vietnam.

Related: How to set-up foreign invested enterprise in Vietnam

Vietnam attracted an estimated foreign investment of 2.1 billion U.S. dollars in January 2022, up 4.2 percent year on year, the General Statistics Office reported.

Specifically, Vietnam licensed 103 new foreign direct investment (FDI) projects with total registered capital of 388 million dollars, up 119.1 percent in quantity but down 70.7 percent in capital year on year.

Among countries and regions with newly licensed investment projects in Vietnam in January, Singapore was the largest source of registered capital with 198.1 million dollars, accounting for 51.1 percent of the total, followed by China’s Hong Kong with 103.3 million dollars, accounting for 26.6 percent, said the office.

During the period, Vietnam also saw 71 operational FDI projects raise capital by 1.27 billion dollars in total, up 169 percent year on year.

In January, disbursed FDI capital totaled 1.61 billion dollars, up 6.8 percent year on year, and 75.4 percent were for the processing and manufacturing sector.

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