Nghe An ranks among top 10 nationwide in terms of FDI attraction
As of November 2024, Nghe An attracted over $1.56 billion in foreign direct investment (FDI), ranking 9th among 63 provinces and cities in Vietnam.
According to data from the Foreign Investment Agency under the Ministry of Planning and Investment, from January to November 2024, the province secured 15 new projects with a total registered capital of $691.5 million and adjusted capital for 12 projects, adding $877.16 million. Additionally, there was one instance of capital contribution and share purchase worth $40,000.
In total, Nghe An recorded $1.5687 billion in FDI, marking a 120.5% increase compared to the same period last year. This placed the province back in the top 10 for FDI attraction nationwide, after falling out of the top 10 during the first 10 months of the year.
Nghe An is also the only locality in the North Central and Central Coastal region of Vietnam to make it into the top 10 for FDI attraction during this period.
Overall, foreign investors invested in 55 provinces and cities across Vietnam in the first 11 months of 2024. Bac Ninh led with nearly $5.04 billion in registered investments, followed by Quang Ninh with over $2.29 billion.
Ho Chi Minh City ranked third with over $2.28 billion, Hai Phong fourth with over $2.1 billion, and Hanoi fifth with more than $2 billion.
Other high-ranking locations included Binh Duong ($1.8 billion), Ba Ria-Vung Tau ($1.7 billion), and Dong Nai ($1.6 billion).
Nghe An placed 9th with over $1.56 billion, and Bac Giang rounded out the top 10 with nearly $1.2 billion.
The Foreign Investment Agency reported that Nghe An currently hosts 165 active FDI projects with total investments exceeding $5.5 billion, ranking 22nd among 63 provinces and cities in the country.
The Provincial People’s Committee predict that by the end of 2024, Nghe An will have attracted $1.696 billion in FDI.
In 2023, the province achieved over $1 billion in FDI for the first time, reaching $1.603 billion - an increase of 66.8% compared to 2022. This placed it 8th nationwide for the year.
In 2022, Nghe An attracted $961.3 million in FDI, marking its first-ever entry into Vietnam’s top 10 provinces for FDI attraction.
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.jpg "Vinh oranges yield estimated at 37,000 tons this year")
