FDI inflows into Vietnam expected to hit $40 bn in 2024: Experts

12 Jul '24

1 min read

FDI inflows into Vietnam expected to hit $40 bn in 2024: Experts

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FDI inflows into Vietnam this year are expected to hit $40 billion, experts say, as FDI had a key role to play in pushing the country's GDP growth rate in H1 2024 to 6.2 per cent.
As of June 20 this year, Vietnam had attracted nearly $15.19 billion in FDI—up by 13.1 per cent YoY.
FDI disbursement in January-June hit $10.84 billion—a rise of 8.2 per cent YoY.

Foreign direct investment (FDI) inflows into Vietnam this year are expected to hit $40 billion, experts say, as FDI had a key role to play in pushing the country’s gross domestic product (GDP) growth rate in the first half (H1) to 6.2 per cent.

The country’s ministry of planning and investment (MPI) has a 7-per cent growth target for this year.

As of June 20 this year, Vietnam had attracted nearly $15.19 billion in FDI—up by 13.1 per cent year on year (YoY), according to the general statistics office.

FDI disbursement in the January-June period hit about $10.84 billion—an increase of 8.2 per cent YoY and a H1 record in the past five years, a domestic news outlet reported.

FDI and cash flow from China and Western nations will boost and bring abundant opportunities for the economy in the next 10 years, Vu Tu Anh, director of the Centre for Economic Information, Analysis and Forecasting under the Central Economic Commission, said.

A survey by the ministry showed foreign investors are still confident about the Vietnamese market and interested in continuing to invest, he said, holding that the FDI may reach $39-40 billion this year, higher than the last year’s figure.

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