Manufacturing, processing industry lures FDI

Vietnam’s manufacturing and processing industry attracted 12,075 foreign-invested projects with a total registered capital of US$180.68 billion as of late June, according to the Ministry of Planning and Investment (MPI)’s Overseas Investment Agency.

Economists attributed the figures to Vietnam’s abundant workforce and several incentives for investors. 

At the Vietnam Business Forum recently held in Hanoi, Deputy Prime Minister Vuong Dinh Hue reiterated the Vietnamese government’s policy of considering the foreign-invested sector an extremely important part of the Vietnamese economy. 

Head of the MPI’s Central Institute of Economic Management Nguyen Dinh Cung said foreign direct investment (FDI) flowing into manufacturing and processing industry is a positive sign, helping Vietnamese firms access advanced technology. 

Vietnam is in the period of golden population with over 6.3 million people of working age, giving the sector an edge to attract FDI.

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