Foreign investment in Vietnam is increasing. The country has more than doubled its financial commitments this October. The country known as a ‘manufacturing hub’ has received these investment promises in new factories. Vietnamese government authorities recently reported this information said news agency, Malaysia Today.
The Southeast Asian country has so far received foreign investment commitments of $5.3 billion in October this year. The average for the remaining months of the year there is $2.2 billion.
About 90 % of October’s inflows came from plans to build factories, according to data from Vietnam’s investment ministry. Since the beginning of this year, Vietnam has received foreign investment commitments of 25.76 billion dollars, which is 14.7 % more than the same period last year. And three-fourths of this commitment came in manufacturing and processing industries. After Singapore and South Korea, the most commitments so far this year have come from China and Hong Kong.
According to the data, in the first 10 months of 2023, the real investment in the country has increased to 10.08 billion dollars. Which is 2.4 % more than the same period of the previous year.