On August 17, autumn, sponsored by the Vietnam Economic and Cultural Research Institute and the Vietnam Consumer Protection Center, co-organized by Hanoi TV, a ceremony of “2024 Outstanding Foreign Direct Investment (FDI) enterprises that have contributed to economic and social development” was held in Hanoi, the capital of Vietnam. NPP from Guangdong, China, and POSCO, one of the world’s top 500 companies, won the three awards of “Top 10 Well-known Brands in 2024”, “Top 10 Consumer Rights Products in 2024” and “Excellent Businessman who has made Positive Contributions to economic Development in 2024 (Chairman Teng Fei)”, representing the hard power of Chinese enterprises in Vietnam. It has become a beautiful new business card for NPP to seize the international market.
Foreign Direct Investment (Foreign Direct Investment), also known as international direct investment, is a country’s investors (natural and legal persons) cross-border investment capital or other factors of production, in order to obtain or control the corresponding enterprise management rights as the core, in order to obtain profits or scarce production factors for the purpose of investment activities. According to statistics, up to now, China has invested 4,418 enterprises in Vietnam, covering technology-intensive processing and manufacturing, information technology, capital-intensive real estate, power, tourism services, new energy and other fields. The investment projects of Chinese enterprises have covered 54 provinces and municipalities in Vietnam. Investment is concentrated in the southeastern coastal areas, the Red River Delta and the border areas with China.
As of March this year, the total number of effective Chinese projects in Vietnam reached 4,418, with a total registered value of 27.6 billion US dollars, accounting for 18.6% of Vietnam’s foreign investment (excluding China’s Hong Kong, Macao and Taiwan), foreign direct investment has become a bright spot in Vietnam’s economic growth, is expected to reach 40 billion US dollars this year, and the number of jobs created by FDI enterprises increased by 4.8% year-on-year. Higher than the same period in 2023.
