World’s largest economy increases investment in Vietnam

, World’s largest economy increases investment in Vietnam

Currently, Vietnam is a destination for many foreign investors from many countries. In particular, the world’s largest economy has continued to pour money into Vietnam for many years.

According to the International Monetary Fund (IMF), in 2021, the United States is the country with the largest GDP in the world, reaching about 22,940 billion USD.

For many years, the United States has continuously poured money into Vietnam. Specifically, by the end of 2021, the United States has invested in Vietnam about 10.28 billion USD with 1,138 projects, ranking 11th among all countries investing in Vietnam.

In the first 10 months of 2022, the US invested about 702.68 million USD in Vietnam with 72 new projects, ranking 8th among all countries investing in Vietnam.

As of October 20, 2022, cumulative total investment capital from the United States into Vietnam reached 11.45 billion USD with a total of 1,203 projects. With this amount of capital, the United States is currently ranked 11th in the list of countries investing the most in Vietnam.

In fact, US FDI is mainly concentrated in big provinces and cities with relatively favorable infrastructure conditions. According to the Ministry of Planning and Investment, the provinces and cities receiving the most investment capital from the US include Ba Ria – Vung Tau (45.8%), Ho Chi Minh City (12.4%), Binh Duong (9%).

In terms of investment, US investment capital mainly focused on accommodation and catering services (42.5%); processing and manufacturing industry (32%), water supply and waste treatment (5.2%).

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Since the beginning of 2022, many large US corporations have increased their investment in Vietnam. For example, Quantum Group (USA) and BB Group Joint Stock Company (BBG Group, Vietnam) signed an agreement with Quang Tri province on research and investment cooperation in two large-scale projects in Southeast Quang Tri Economic Zone.

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Along with that, two other large US enterprises, Exxon Mobil and Milenium, also proposed plans to invest billions of dollars in gas power projects in Vietnam…

In addition, American businesses are prioritizing investment in certain areas in Vietnam. Specifically, at the Vietnam-US Summit held in March 2022, Ms. Marisa Lago – Deputy Secretary of Commerce in charge of US international trade shared that health, digital trade, energy and transformation Climate will be 3 areas prioritized by US businesses to cooperate with Vietnam in 2022.

@ Cafef

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