01 Feb Foreign investments in 2022 in Vietnam.
Foreign investment in Vietnam saw a significant increase in 2022, making it a lucrative destination for foreign investors. Here are some key figures and facts that highlight the growth of foreign investment in the country:
- Total foreign investment inflow in 2022 was approximately USD 46.2 billion, an increase of 18.9% compared to 2021.
- As of December 2022, there were a total of 12,000 newly licensed foreign invested projects with a total registered capital of USD 15.5 billion, a year-on-year increase of 15.2%.
- The manufacturing and processing sector continues to attract the largest share of foreign investment, accounting for 56.5% of the total.
- The top 5 foreign investor countries in 2022 were South Korea, Japan, Singapore, China, and Taiwan, with a combined investment of over 60% of the total.
- Some of the biggest foreign investment deals signed in 2022 included the USD 4.5 billion investment by Samsung Electronics in its Vietnamese operations, and the USD 1.2 billion investment by LG Energy Solutions in its electric vehicle battery plant.
- The Vietnamese government has been making efforts to improve the business environment for foreign investors, such as simplifying procedures for investment registration, reducing bureaucracy and corruption, and improving transparency and accountability.
- According to the World Bank’s 2021 Doing Business report, Vietnam jumped 6 places to rank 128th out of 190 economies, making it one of the most improved economies in terms of ease of doing business.
- The Vietnamese economy has been growing consistently, with a GDP growth rate of 7.65% in 2022, making it one of the fastest-growing economies in Southeast Asia.
- With a large and young population, growing middle class, and a rapidly developing economy, Vietnam offers a growing market for foreign businesses, especially in sectors such as technology, retail, and consumer goods.
In conclusion, the attractive figures and positive economic indicators make Vietnam a promising destination for foreign investment in 2022. However, foreign investors must be cautious and seek the advice of competent and skilled market entry experts to successfully navigate the local business environment and regulations.
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