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  • News
  • COVID-19
  • News in Vietnam
  • 27 September 2021

Foreign investment poured into Vietnam despite the COVID-19 epidemic

The Foreign Investment Department (Ministry of Planning and Investment) said that real estate ranked third in the list of sectors attracting capital from foreign investors (FDI) in the past eight months with nearly 1.6 billion USD.

According to the technology information site Digitimes in Taiwan (China), Vietnam’s semiconductor industry is expected to grow dramatically in the next five years.

Despite being affected by the COVID-19 pandemic, the news said that Vietnam has not stopped attracting foreign investment in the electronics industry. Foreign electronics companies still maintain factories in the North of Vietnam despite the COVID-19 epidemic.

According to Fitch Solutions, Vietnam’s industrial parks still attract significant foreign investment, especially in the electronics industry, amid the resurgence of the COVID-19 pandemic. About 65% of foreign electronics companies choose to locate their headquarters in the North, while 30% select industrial zones in the South.

Due to the impact of the epidemic, some factories stopped or reduced their capacity. However, in general, realized FDI still reached US$ 11.58 billion, up 2% over the same period.

Regarding the investment area, Long An is the leading province to attract FDI with more than 3.6 billion USD, accounting for 18.9% of the total registered investment capital, including large power projects up to 3.1 billion USD accounting for 85.8% of the total investment capital of Long An).

Ho Chi Minh City ranked second with a total registered capital of nearly 2.2 billion USD, accounting for 11.4% of total investment capital. Binh Duong ranked third with almost 1.7 billion USD, accounting for 8.7% of total investment capital. Next, it is followed by Can Tho, Hai Phong, and Hanoi.

According to technology survey and consulting firm Technavio, Vietnam’s semiconductor industry will grow at a compound annual growth rate (CAGR) of 19%, or about $6.16 billion, over the period. The period from 2020 to 2024. The semiconductor sector is considered a driving force for many industries and is one of nine high-value technology products in Vietnam.

According to Counterpoint Research, Vietnam’s smartphone shipments in the second quarter of 2021 increased by 11% compared to the same period in 2020, despite a new wave of COVID-19 infections since April. Smartphones Chinese brands account for nearly 50% market share in Vietnam.

(Source: congluan)