This was a drop of 21.2 percent over 2022, according to the General Office of Statistics and reported by Vietnam Plus.
Key takeaways
- Vietnam invested US$156.9 million in projects in the wholesale and retail, and repair of cars, motorcycles, motorbikes and motor vehicles;
- A further US$120.6 million in information and communications sector; and
- A total of US$84.4 million in electricity, gas, hot water, steam, and air conditioner production and distribution.
This is interesting in that Vietnam’s Vinfast announced it would be building a US$4 billion electric vehicle factory in North Carolina in the USA. It’s not clear exactly where the funds to make this happen will come from but presumably a decent amount will need to be transferred out of Vietnam.