Foreign investment in Vietnam surges, despite global slowdown

Despite the global investment downturn, Vietnam continues to attract international investors, with foreign investment of nearly USD10.86bn registered over the past five months - a 10.6% month-on-month increase, according to the Ministry of Planning and Investment's Foreign Investment Agency (FIA). More than USD5.26bn went into 962 new projects, a YoY increase of 27.8% in value and 66.4% in number. Companies like Sembcorp Industries and Hyosung Group see Vietnam as a strategic market for expansion. Doosan Group is looking to bolster eco-friendly energy investments in the country. FIA Director, Đỗ Nhất Hoàng, highlighted South Korea's keen interest in the Vietnamese market, citing it as the largest foreign investor with a total registered capital of USD82bn.