Unveiling the Localities Surpassing the $1 Billion Mark in Attracting FDI in the First 5 Months of the Year
According to the Foreign Investment Department’s report of the Ministry of Planning and Investment, foreign investors have invested in 50 provinces and cities nationwide in the first five months of 2023.
The report indicated that in the first 5 months of 2023, the total newly registered capital, adjustments, and contributions of foreign investors reached nearly $10.86 billion, equivalent to 92.7% of the same period. The implemented capital of foreign investment projects is estimated at about $7.65 billion, a decrease of 0.8% compared to the same period in 2022.
Looking at the provinces and cities that received investment, the report showed that foreign investors have invested in 50 provinces and cities nationwide in the first five months of 2023. Among them, three localities with a total investment capital exceeding $1 billion include Hanoi, Bac Giang, and Ho Chi Minh City.
- Specifically, Hanoi led the country in attracting FDI in the first five months of 2023, with a total registered investment capital of nearly $1.87 billion, accounting for nearly 17.2% of the total registered investment capital and nearly 2.7 times higher than the same period in 2021. During this period, Hanoi granted new registrations to 146 projects, with total newly registered capital reaching $48.3 million; approved capital adjustment for 71 projects, with the registered adjustment capital reaching nearly $200 million, and approved 144 capital contribution times, with the value of capital contributions, share purchases reaching over $1.6 billion.
- After Hanoi, Ho Chi Minh City is the second locality in the country with a total registered investment capital of over $1.14 billion, accounting for more than 10.5% of the total national investment capital. Of this, the city granted new registrations to 374 projects, with total newly registered capital reaching $199.83 million; approved capital adjustment for 121 projects, with the registered adjustment capital reaching over $403 million, and approved 836 capital contribution times, with the value of capital contributions, share purchases reaching over $511 million.
- The third locality with FDI capital from the beginning of the year to May 2023 reaching over $1 billion is Bac Giang. Accordingly, in the first five months of 2023, the total registered investment capital in Bac Giang reached over $1 billion, accounting for over 9.4% of the total national investment capital, nearly 2.4 times higher than the same period. Of this, the province granted new registrations to 22 projects, with total newly registered capital reaching $953.65 million; approved capital adjustment for 11 projects, with the registered adjustment capital reaching $52.14 million, and approved 836 capital contribution times, with the value of capital contributions, share purchases reaching over $540 million.
In addition to the three localities mentioned above, some other localities also attracted a large amount of direct foreign investment in the first five months, such as Binh Duong ($909 million); Dong Nai ($678.77 million), Bac Ninh ($750 million), Hai Phong ($552 million),…
If considering the number of projects, Ho Chi Minh City leads the country in terms of the number of new projects (38.9%), the number of project adjustments (24.9%) and capital contributions, share purchases (65.4%).
As of May 20, 2023, the whole country has 37,238 projects still in effect with a total registered capital of nearly $447.67 billion. The cumulative implemented capital of direct foreign investment projects is estimated at nearly $281.65 billion, nearly 62.9% of the total registered investment capital still in effect.
By locality, foreign investors have been present in all 63 provinces and cities nationwide, in which Ho Chi Minh City leads in attracting direct foreign investment with over $56.7 billion (accounting for 12.7% of total investment capital). Second is Binh Duong with nearly $40 billion (accounting for over 8.9% of total investment capital). Hanoi ranks third with over $39.2 billion (accounting for nearly 8.8% of total investment capital).
Next are Dong Nai (1,840 effective projects), Ba Ria – Vung Tau (537 projects), Hai Phong (1,018 projects), and Bac Ninh (1,908 projects), with cumulative investment capital respectively at $35.6 billion; $33.3 billion; $25.8 billion; $23.9 billion.
Vietnam sourcing