The industry in the top 2 in attracting FDI capital is real estate

Thạch Lam |

According to the Ministry of Planning and Investment, in the first 9 months of 2024, real estate was the second industry in attracting foreign direct investment (FDI).

According to a report by the Ministry of Planning and Investment, total registered FDI capital in Vietnam in the past 9 months reached nearly 24.78 billion USD, up 11.6% over the same period last year. By the end of September, FDI projects were estimated to have disbursed more than 17.3 billion USD, up 8.9%.

As of September 30, total FDI capital was nearly 25 billion USD, an increase of 11.6% over the same period in 2023. In September alone, total FDI capital reached the highest level in the months since the beginning of the year, with nearly 4.3 billion USD.

Foreign investors poured capital into 18 out of 21 sectors of the national economy. Of these, the processing and manufacturing industry took the lead with more than 15.6 billion USD, accounting for nearly 63% of the total registered investment capital, a slight decrease compared to last year.

The real estate sector ranked second with a total investment capital of nearly 4.4 billion USD, accounting for nearly 17.7% of the total registered investment capital. Compared to the same period last year, FDI capital in real estate increased 2.2 times. Next were the electricity production and distribution and wholesale and retail sectors with total registered capital reaching more than 1.1 billion USD and more than 920 million USD, respectively.

Analysis by real estate finance experts shows that Vietnam has been and is being targeted by a large amount of foreign direct investment capital.

In the context of the global economy is having many fluctuations, an emerging country like Vietnam has become a potential market to attract investment. In particular, the attractive profit rate in a market is an important factor in the investment decisions of foreign investors.

Market research unit Savills commented that Vietnam is an attractive investment destination for foreign investors, thanks to its stable political and economic context and competitive labor costs. In the context of abundant FDI capital, some real estate segments have seen outstanding growth, including serviced apartments and industrial real estate.

Mr. Matthew Powell - Director of Savills Hanoi - said: "Foreign capital flows into Vietnam have attracted many international experts to work, creating a key customer segment for the serviced apartment market. They often choose to rent serviced apartments managed and operated by international units, meeting many requirements for service quality".

In terms of region, foreign capital is concentrated in provinces and cities such as Bac Ninh, Ho Chi Minh City, Quang Ninh, Binh Duong, Hanoi, Hai Phong, Dong Nai, Bac Giang... This group accounts for about 80% of new projects and nearly 73% of the country's total investment capital in the first 9 months. These are also localities with many advantages in attracting foreign investment such as good infrastructure, stable human resources, administrative procedure reform and investment promotion.

Thạch Lam
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