VIETNAM

BUSINESS
REVIEW
March 2024

Sneak Peek
Vietnam attracted US$4.29 billion in FDI
in the first two months of 2024, a 38.6%
increase from the previous year.
 Business Review

Vietnam Attracts US$4.29B FDI Early 2024

Vietnam's FDI surged to US$4.29 billion in early 2024, up 38.6%, with

US$3.6 billion in new capital for 405 projects and US$2.8 billion disbursed,
up 9.8%. Leading sectors were manufacturing (US$2.54) billion and real
estate (US$1.41 billion), with Singapore as a top contributor.

Vietnam's 2024 ASEAN-leading 6% growth is driven by tourism and a 34%

increase in electronics exports, affirming its status as a key investment
destination.
March 01, 2024
 Business Review

Hanoi Leads in 2024 Foreign Investment

Hanoi secured US$914.4 million in foreign investment early 2024, a 24.4-

fold jump, led by a US$662 million Singaporean urban project. This
includes US$869.8 million across 27 new projects, highlighting the city's
investment boom.

The focus on high-tech and infrastructure has made Hanoi a prime FDI
target. Strategic improvements in business climate and human resources
aim to attract further large-scale projects, boosting Vietnam's economic
development.
March 08, 2024
 Business Review

UK-Vietnam Trade Pact Proves Its Worth

UKVFTA elevates UK-Vietnam trade to US$5.92 billion in 2023, with

US$5.27 billion from Vietnamese exports, fostering growth in tech,
finance, and green energy sectors through CPTPP collaboration.

The UK's US$15 billion Just Energy Transition Partnership underscores a

commitment to Vietnam's sustainable development, setting a precedent
for future trade and investment, ensuring ongoing growth and
partnership.

March 08, 2024

 Business Review

Israel’s Free Trade Strengthens Existing Ties

Projected to grow 6-6.5% in 2024, Vietnam's economy is rebounding, with

Q4 2023 growth at 6.72% from 3.32% in Q1, hitting a GDP over US$400
billion. Focus areas include digital, green, and high-tech sectors to drive
further economic progress and regional prominence.

With a 5.05% growth rate in 2023 and a third rank in ASEAN, it's
enhancing its business environment and public investment, attracting
more FDI—a 32.1% increase to US$36.6 billion.

March 08, 2024

 Business Review

Quang Nam’s Energy Transformation Era

Quang Nam's Chu Lai 3,000MW gas power project, fueled by the Blue
Whale mine, aims to generate 23-25 billion kWh yearly, enhancing state
revenue by US$15-18 billion by 2044, supporting industrial and energy
goals.

Quang Nam targets 40% renewable energy by 2030, advancing Vietnam's

green shift. THACO Auto's investments highlight its key role in regional
growth.

March 13, 2024

 Business Review

Can Tho Draws Japanese Investment

Can Tho, targeting Japanese investment, boasts six industrial parks and
a skilled workforce from eight universities and 63 vocational schools,
focusing on high-tech and digital sectors.

Home to 8,400 students annually in tech and digital fields, Can Tho adds
1,700 digitally skilled graduates to its workforce each year, cementing its
role in Vietnam's tech-driven growth.

March 18, 2024

 Business Review

Vietnam & UAE Trade Set to Surge

Vietnam and the UAE are finalizing CEPA for mid-2024, enhancing trade
and marking Vietnam's first Middle Eastern free trade deal. This
agreement is expected to boost their economic ties and utilize the UAE's
strategic position.

Bilateral trade hit US$4.7 billion in 2023, a 5.9% increase, with Vietnam's
exports over US$4 billion. CEPA aims to elevate trade to US$5 billion
annually, focusing on sectors like oil, gas, and energy, and supporting
Vietnam's Halal food and energy industries.
March 19, 2024
 Business Review

Victory Giant Tech Invests US$800M

In Q1 2024, Bac Giang's industrial growth will surge as 13 foreign firms

plan to employ 13,000 workers, led by Luxshare and its affiliates. Luxshare-
ICT's US$330 million factory expansion in Quang Chau Industrial Park,
raising its investment to US$504 million.

This expansion, set to complete in 24 months, will boost electronic

component production for exports, enhancing job opportunities in the
region.
March 20, 2024
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