Vietnam’s 2023 foreign investment third highest since 2018 despite economic downturn

Vietnam received foreign investment commitments worth US$36.6 billion in the year until December 20, the third highest since 2008, according to recently-released data from the Foreign Investment Agency under the Ministry of Planning and Investment. The Southeast Asian country attracted $44.4 billion in foreign investment in 2008, double the figure in the previous year, after it joined the World Trade Organization in 2007. However, the foreign investment bounced back between 2017 and 2023 with the average capital hitting $33.3 billion per year. During the period, around $23.1 billion in foreign investment was disbursed, according to the Foreign Investment Agency. Ho Chi Minh City, Hanoi City, Hai Phong City, Quang Ninh, Bac Giang, Thai Binh, and Bac Ninh Provinces in northern Vietnam were the largest recipients of foreign investment this year.