Vietnam has the potential to attract $36-38 billion in FDI this year, according to the Foreign Investment Agency at the Ministry of Planning and Investment (MPI).

With effective Covid-19 control and stable production and trade, Vietnam is considered a safe and attractive investment destination by foreign investors, it said.

Many major enterprises have shown a keen interest in investing in the country. Global technology and electronics giants have seen shifting supply chains and moved to diversify production lines to Vietnam. Investment expansion announcements from Samsung, LG, Foxconn, and LEGO can be viewed as evidence of Vietnam’s continued appeal.

It attracted a total of $27.72 billion in FDI last year, with disbursement at $22.4 billion, up 13.5 per cent compared to 2021.

Of 108 countries and territories pouring capital into Vietnam last year, Singapore ranked first, with $6.46 billion, followed by South Korea with $4.88 billion and Japan with $4.78 billion.