Vietnam looks to remain a strong competitor for global FDI

Workers at a semiconductor factory located in HCM City. - VNA/VNS

HANOI: Vietnam remained an exception in attracting Foreign Direct Investment (FDI) on the global and regional scale last year. The South-East Asian economy was expected to attract a large amount of FDI this year, said economists and analysts.

Data from the United Nations Conference on Trade and Development (Unctad), according to Rồng Viet Securities Company (VDSC), showed global FDI in 2023 increased by 3 per cent compared to the year before, reaching over US$1.365 trillion, mainly attributed to a significant increase in European Union countries. FDI in the Asia-Pacific, traditionally a major force of global investment, recorded a 9 per cent decline, amounting to $849 million, including a 6 per cent reduction in China, a 47 per cent reduction in India and a 16 per cent reduction in Asean.