The FDI Magnetism Rankings for the First 11 Months of 2024: Bac Ninh Sustains its Top Spot, with a Dark Horse Province Surpassing Ho Chi Minh City to Claim Second Place.

According to the latest report on FDI attraction by the Foreign Investment Agency, as of the end of November 2024, the total newly registered, adjusted, and contributed capital of foreign investors reached nearly $31.4 billion, up 1% compared to the same period in 2023. There were 3,035 new projects granted Investment Registration Certificates (up 1.6% compared to the same period), with a total registered capital of nearly $17.39 billion (up 0.7% compared to the same period).

The number of adjusted projects was 1,350 (up 12.9% compared to the same period), with a total additional registered capital of over $9.93 billion (up 40.7% compared to the same period). In addition, there were 3,029 transactions of capital contribution by foreign investors (down 7% compared to the same period), with a total value of capital contribution of nearly $4.06 billion (down 39.7% compared to the same period).

The Foreign Investment Agency (Ministry of Planning and Investment) assessed that in the first 11 months of 2024, the total registered FDI capital continued to increase slightly (1%) compared to the same period last year, down 0.9 percentage points compared to the first 10 months.

In addition, new and adjusted investment in the first 11 months increased in both the number of new projects/adjusted capital transactions and new investment capital/additional capital. Notably, adjusted investment maintained a relatively high increase (up 40.7%) compared to the same period last year.

November alone recorded a relatively large total investment capital compared to other months in the year, with nearly $4.12 billion, accounting for 13.1% of the country’s total investment capital in the first 11 months.

In terms of investment location, the report shows that foreign investors invested in 55 provinces and cities nationwide in the first 11 months of 2024. Among them, Bac Ninh led with a total registered investment capital of nearly $5.04 billion, accounting for 16% of the country’s total investment, more than three times the figure in the same period last year.

Notably, in this reporting period, with a total FDI capital of over $2.29 billion, accounting for 7.3% of the country’s total registered investment capital, Quang Ninh surpassed Ho Chi Minh City to rank second in FDI attraction (in the previous reporting period, Quang Ninh’s total registered FDI capital was $1.97 billion, ranking third, while Ho Chi Minh City was second with $2.1 billion). Following is Ho Chi Minh City with a total registered investment capital of over $2.28 billion, accounting for nearly 7.3% of the country’s total investment capital. Next are Hai Phong, Hanoi, Binh Duong, etc.

In terms of the number of projects, the report shows that Ho Chi Minh City led the country in the number of new projects (accounting for 42.3%), the number of adjusted capital transactions (accounting for 14.7%), and capital contributions (accounting for 70.9%).

According to the Foreign Investment Agency, investment is concentrated in provinces and cities with many advantages in attracting FDI (good infrastructure, stable workforce, efforts in administrative procedure reform, and dynamism in investment promotion) such as Bac Ninh, Quang Ninh, Ho Chi Minh City, Hai Phong, Hanoi, Binh Duong, Ba Ria-Vung Tau, Dong Nai, Nghe An, and Bac Giang. These 10 localities alone accounted for 79.6% of new projects and 69.4% of investment capital in the country during the first 11 months.

As of November 2024, the country had 41,720 valid projects with a total registered capital of nearly $496.7 billion. The cumulative realized capital of foreign direct investment projects is estimated at nearly $318.9 billion, or 64.2% of the total registered capital still in effect.

In terms of location, FDI investors have been present in all 63 provinces and cities in the country, with Ho Chi Minh City being the leading locality in attracting FDI with over $58.4 billion (accounting for 11.8% of total investment), followed by Binh Duong with nearly $42.4 billion (accounting for 8.5% of total investment), and Hanoi with nearly $42.2 billion (accounting for 8.5% of total investment).