Global flows of foreign direct investment were up 3 percent last year, however, if the several top performing European economies are removed, there was a decline of 18 percent according to the United Nations Conference on Trade and Development 2023 Global Investment Trends report and reported by The Leader.
The story was a little different in Vietnam where the value of projects approved reached an all-time high of US$36.6 billion, up from US$27.72 billion a year before. Still there are a number of key takeaways of note in the report that very much apply to Vietnam. This includes:
- Greenfield projects in semiconductors were down by 10 percent in quantity and 39 percent in value;
- There were less projects overall, down by 6 percent, however, their collective value was up 6 percent;
- ASEAN, across the board, reported a 16 percent decline in FDI;
- There was, however, a 37 percent jump in greenfield projects in the region; and
- Key sectors recording growth in 2023 were automotives, textiles, machinery, and electronics.