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Manufacturing solar cells at Trina Solar’s factory – a leading Chinese company in the field of solar energy in Thai Nguyen province, Vietnam. (Photo: Tran Viet/ VNA)
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According to the Ministry of Planning and Investment, there were 91 countries and territories investing in Vietnam in the first seven months of 2024.
In terms of investment capital, Singapore remains the leader, but in terms of project number, China is the partner with the most new investment projects.
Chinese FDI continues to flow into Vietnam. Specifically, Singapore led with a total investment of nearly $6.52 billion, accounting for 36.2% of total investment, up 79.1% over the same period in 2023.
Hong Kong, China ranked second with over $2.19 billion, accounting for 12.2% of total investment, more than double the same period. This is followed by Japan, China, and South Korea.
In terms of project number, China leads in new investment projects (29.7%); South Korea leads in capital adjustment (24.5%) and contributions and purchases of shares (26%).
Minister of Planning and Investment Nguyen Chi Dung said that the most positive aspect is that FDI from China includes many corporations with an international scale in the fields of technology, electricity-electronics, processing, manufacturing, infrastructure, renewable energy, and electric vehicles.
In reality, Chinese FDI in Vietnam previously focused on manufacturing and processing household wooden furniture, steel, leather and footwear, garments, food processing, and plastic packaging…
In recent years, Chinese investment has shifted to high-tech industries, components, and parts for industrial production, electronics, automobiles, and green energy.
Recently, the BOE Beijing Group invested in a smart terminal equipment factory in Phu My 3 Industrial Park (Ba Ria-Vung Tau) with a total investment of $277.5 million, specializing in assembling and manufacturing monitors for computers, TVs, motherboards…, expected to operate in 2026.
In 2019, BOE Beijing also put into operation a factory in Dong Nai.
To become a locality that always tops the country in attracting foreign direct investment (FDI), in addition to promoting its position as the largest northern seaport city, Hai Phong continuously improves the investment environment and changes the way of investment promotion and propaganda.
Following the success of the work and investment promotion programs abroad, recently, a working delegation of Hai Phong city, led by Mr. Le Tien Chau, Secretary of the City Party Committee, visited, worked, and promoted investment in China.
There, Hai Phong city granted seven investment registration certificates with a registered capital of nearly $200 million and handed over four memoranda of understanding for cooperation.
Currently, Hai Phong is the destination of leading investors in the world such as: Regina Miracle Group, Hong Kong, China (with a total investment of over $1 billion); Pegatron Group, Taiwan, China (with a total investment of over $800 million); SK Group, South Korea (with a total investment of over $500 million).
In addition, there are other groups such as Nipro Pharma and Aeon from Japan, and Tongwei from China. Mr. Jang Jin Ke, General Director of Tongwei Vietnam Electronics Co., Ltd., said that Hai Phong city’s organization of a visit, working, and investment promotion in China could improve investment efficiency, quickly identify investment opportunities, and quickly respond to market changes, thereby contributing to economic development in the context of globalization.
Along with Hai Phong, Binh Duong is also a locality that strongly attracts FDI in the country. Binh Duong currently has 4,322 FDI projects with investment registration certificates still valid, with a total registered investment capital of over $40.9 billion, accounting for more than 8.5% of the country’s foreign investment capital.
And Binh Duong is also one of the localities with a very large number of FDI projects from China.
The Director of the Binh Duong Province Planning and Investment Department, Pham Trong Nhan, said that FDI continues to play an important role in improving the quality and scale of investment projects in Binh Duong.
FDI projects focus on industrial parks, with processing and manufacturing industries accounting for a large proportion. This not only brings strong external forces but also helps Binh Duong access advanced technologies and international markets.
According to Minister Nguyen Chi Dung, with the goal of selectively attracting investment, creating connectivity and spillover effects between the foreign-invested sector and the domestic economy, the Ministry will urgently review and resolutely remove difficulties and obstacles in institutions, laws, and administrative procedures to create a breakthrough driving force; at the same time, focus on attracting large-scale, high-quality FDI projects in the fields of processing and manufacturing, electronics, and semiconductors; promptly handle difficulties and obstacles of FDI enterprises to speed up the implementation of projects.
Thuy Hien
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