Vietnam is ready to welcome a large influx of foreign investment

DNHN - Vietnam is ready to welcome a large influx of foreign investment thanks to economic reforms and a favorable investment environment. Transparent policies and streamlined administrative procedures create ideal conditions for investment opportunities.

In recent years, our country has proven to be an attractive destination for foreign investors, thanks to rapid economic development and an increasingly improved investment environment. The government has implemented many policies and reforms to facilitate investment, including minimizing administrative barriers, enhancing transparency, and reforming taxes. These efforts have caught the attention of international investors and created a promising business environment.

Vietnam's infrastructure is also being upgraded and expanded, with major projects in transportation, seaports, and information technology. This development not only helps connect regions within the country but also creates favorable conditions for international trade and logistics. Foreign investors are seeing Vietnam not only as a large consumer market but also as an important transit point in the global supply chain.

Additionally, Vietnam is still focusing on developing high-quality human resources, with many training programs and educational reforms to meet the needs of modern industries. This transformation ensures that Vietnam's workforce can meet the increasingly high demands of international investors and businesses. These factors combined create an ideal investment environment for large foreign capital inflows, while also opening up sustainable development opportunities for Vietnam's economy in the future.

Uniqlo, the globally renowned fashion retail brand from Japan, has announced plans to expand in Vietnam by opening two new stores in Hai Phong and Ho Chi Minh City. Specifically, Uniqlo will open a store at Vincom Plaza Imperia in Hai Phong and Parc Mall in Ho Chi Minh City, marking the 25th and 26th stores of this brand in the Vietnamese market after nearly five years of operation.

Not only Uniqlo, but many other international investors are also accelerating their expansion in Vietnam. Recently, seven Chinese enterprises received approval from Hai Phong City to invest and increase capital with a total amount of up to 190 million USD.

In addition, several memorandums of understanding (MOUs) were signed during a recent investment promotion trip to China, including an MOU from Exquisite Power Vietnam Co., Ltd., which plans to expand its battery assembly project at Nam Dinh Vu Industrial Park with an additional investment of nearly 100 million USD.

Since the beginning of the year, in addition to about 10.76 billion USD in new investments, foreign investors have registered to increase capital by an additional 4.97 billion USD, an increase of 19.4% compared to the previous year. Notably, Amkor’s semiconductor project saw a capital increase of 1.07 billion USD.

Leaders of the Ministry of Planning and Investment stated that these investments not only reflect the attractiveness of Vietnam but also show the increasing quality of foreign capital, thanks to careful investment attraction selection.

According to HSBC, Vietnam's deep integration into the global value chain is a key factor that makes the country attractive to foreign investors. Besides cost competitiveness and investment support policies such as tax incentives, Vietnam also benefits from signed free trade agreements, labor skills, and continuous improvements in the investment environment.

HSBC's report indicates an increase in investment flows from South Korea, especially from Samsung, along with the trend of leading Chinese manufacturing companies expanding their investments in Vietnam. In 2023, nearly 20% of new investments in Vietnam came from China, encouraging other major technology corporations to increase their investment in the country’s production capabilities.

Recently, major technology corporations have continuously expanded their investments in Vietnam, notably Amkor, Foxconn, Quanta, Goertek, and LG. Foxconn has invested over 383 million USD in Bac Ninh and recently added another 550 million USD in Quang Ninh. Hyosung, after investing more than 5 billion USD in Vietnam, plans to invest an additional 300 million USD in a data center in Ho Chi Minh City and develop Ba Ria - Vung Tau into a biotechnology and advanced materials hub.

Apart from these projects, Adani Group, led by billionaire Gautam Adani, also plans to invest about 10 billion USD in Vietnam. Adani is expected to invest 2 billion USD in Lien Chieu Port, 2.8 billion USD in the Vinh Tan 3 thermal power project, as well as participate in projects like the Long Thanh Airport phase II and Chu Lai Airport.

Nhan Ha