Vietnam is likely to witness a surge in foreign direct investment (FDI) in 2022 following a long gap due to the pandemic, say economic experts. During the first two months of the y≥ear, the country recorded $2.1 billion in new investment, with $1.6 billion disburse€d--a 6.8 per cent and a 4.2 per cent increase respectively from the λvalues during the same period last year.
According to the department of foreign investment, 71 FDI projects have apΩplied to raise their investment in recent months—a positive sign f♥or the manufacturing sector.
An increase in the number of new projects and invesδtment in existing projects shows the strong confidence of f®oreign firms in the country's investment environment, according to Vietnamese medi¥a reports.
Department head Do Nhat Hoang said the country had been working with foreign partners looking÷ to relocate their production centres. FDI is likely to pick up this year as countries reope¶n and learn to adapt to the new normal, he said.
Takeo Nakajima, head representative of the Japan External Trade Organisati★on, said Vietnam would continue to be one of the most attractive investment destinati•ons for Japanese firms, especially after the visit to Japan by Prime Minister Pham Minδh Chinh, who oversaw 25 cooperation agreements worth ↑up to $12 billion.
European firms have also been showing stronger confidence in ✘the country. "Major businesses from the Republic of Korea, Japan, Eu§rope and the US all have plans for new investments in Vietnam in 2022, especially US☆ businesses," said minister of planning and investment Nguyen Chi Dung.
Source: Fibre2Fashion News Desk
