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Southern provinces and cities on lead in attracting FDI

According to the Foreign Investment Agency, Ministry of Planning and Investment (MPI), as of 20/9/2021, total FDI newly registered capital, adjusted and contributed as well as shares transfer have reached US$ 22.15 billion, increased 4.4% over the same period in 2020. 18 out of 21 sectors attracting large investment capital from foreign investors. Typically, processing and manufacturing industry led with over US$ 11.8 billion, accounting for 53.4% of total registered investment capital while electricity production and distribution industry with a total investment of over US$ 5.5 billion accounted for nearly 25% of total registered investment capital, etc.

In particular, the 4th wave of Covid has directly hit major industrial centers in the southern region of Ho Chi Minh City (HCMC), Dong Nai and Binh Duong bringing severe affect to enterprises with disrupting production supply chains, causing chaotic production and business, even stop of their whole or partly operation. 

However, being shared by the Government, Ministries and localities with the highest goal of effective pandemic protection and production support. Many southern provinces and cities remain stable socio-economic activities and continue to be FDI attractive destination.

Accordingly, among 58 localities attracting FDI in 9 months, Long An has led with a total registered capital of US$ 3.6 billion, accounting for 16.4% of total one registered since the early year. Notably, 2 power projects US$ 3.1 billion have been invested in Long An province. In the context of the Covid-19 burning spot in HCMC, the city still recorded positive results in attracting FDI by ranking 3rd with a total registered capital of nearly US$ 2.4 billion, accounting for 10.6% of total investment capital and leading on top in the number of more than 400 new projects. Binh Duong stays the fourth with nearly US$ 1.8 billion flowing into the locality.

Dong Nai province up to early September 2021, 42 countries and territories have invested in the province with a total registered capital of up to US$ 32 billion. According to the Provincial Vice Chairwoman Nguyen Thi Hoang, total attracted investment capital in the first 9 months of 2021 increased by 25% over the same period and reached 88% of the year plan. Most of the projects are in supporting industrial production, concentrated in industrial parks from Korea, Japan and Singapore.

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