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FDI rebound is key to economic growth in 2021

VGP – Despite the COVID-19 pandemic, FDI inflows spectacularly rebounded, making important contributions to the positive GDP growth rate of 2.58 percent in 2021.

01/19/2022 18:57

The Ministry of Planning and Investment reported that foreign investment inflows reached US$ 31.15 billion in 2021, representing a year-on-year increase of 9.2%.

Specifically, the country granted licenses to 1,738 FDI projects with a total registered capital of US$ 15.25 billion, down 31.1% in number but up 4.1% in value. As many as 985 projects increased investment capital by US$ 9.01 billion, up 40.5%.

Meanwhile, the amount of FDI disbursement hit US$ 19.74 billion, a year-on-year decline of 1.2%.

The FDI sector also gained a trade surplus of nearly US$ 28.5 billion, contributing to offsetting the trade gap of the domestic sector. 

Noticeably, Viet Nam attracted a series of large-scale FDI projects including Long An Power Station Project (US$ 3.1 billion), LG Display Hai Phong's project (adding US$ 2.15 billion), and a US$1.6-billion semiconductor plant of Amkor Technology. 

In 2022, Viet Nam will continue to pursue selective FDI attraction policies which focus on quality of projects, said Minister of Planning and Investment Nguyen Chi Dung. 

Viet Nam will enable investment in the high-tech sector and source technology so that the FDI sector would make greater contribution to structure transformation and economic modernization. 

The country is forecast to favorably take advantage of the international capital inflow while global supply chain has bounced back and consumption demands have been on the rise, creating favorable ways for Vietnamese exporters.  

The Danish toy production company LEGO Group decided to build a US$1 billion plan in Binh Duong. Gabor Fluit, the General Director of De Heus Viet Nam assessed that Viet Nam represents a large market with various FTAs which would open up abundant opportunities for investors. 

In addition, Viet Nam is suggested to seize opportunities in 2022 when corporates and multinational corporations of Europe, Japan, the RoK, and the U.S. restructure and relocate production and supply chains./.