Vietnam attracted a total of $22.76 billion worth of committed foreign direct investment (FDI
) in the year to December 15, rising 12.5% from 2014, the General Statistics Office (GSO) has said in a report.
Foreign investors registered to put $15.58 billion in 2,013 newly-licensed projects, down 0.4% in value, and another $7.18 billion in 814 operational ones.
Ho Chi Minh City topped 48 foreign-invested localities during the year, with $2.81 billion. The runners-up were Tra Vinh with $2.53 billion, Binh Duong with $2.46 billion, and Dong Nai with $1.47 billion.
Notably, disbursed FDI grew 17.4% year-on-year to $14.5 billion in the year to December 15, higher than a range of $11 billion-$13 billion in the previous three years.
“Our improving investment environment and trade agreements help attract more companies to move from China and other regional countries to Vietnam,” Minister of Planning and Investment told Bloomberg earlier this month.
Among the free trade agreements (FTAs), the pact with the EU and the Trans-Pacific Partnership (TPP) are expected to bring the biggest opportunities for Vietnam in luring foreign investment, the Thanh Nien (Young People) cited economist Vo Tri Thanh as saying.
Investors in Vietnam could benefit from low tariffs and boost exports to top markets, including the EU, the U.S., Japan and Australia, he said.
The country is said to be the biggest winner of the 12-nation TPP accord, which will boost exports with tariff reductions on a range of products, including shoes, seafood and clothes, according to the World Bank.