In 2023, as of December 31, the number of foreign-invested enterprises (FIEs)  reporting losses increased by 21.2% year-on-year, to 16,292, while the number of FIEs with accumulated losses rose by 15% to 18,140; and the number of FIEs with losses eroding owners' equity increased by 15.2% to 5,091, according to a report on results of summarizing and analyzing the 2023 financial statements from FDI enterprises, submitted recently by the Ministry of Finance to the Government.

The report revealed that 28,918 FIEs had completed financial statement data for analysis; and that the revenue of FIEs in 2023 had reached nearly VND9.42 quadrillion ($368.8 billion), a decrease of 4.3% compared to 2022; and their combined pre-tax profit in the year stood at VND411.742 trillion (over $16 billion), a decrease of 14.2% compared to 2022.

The manufacturing and processing industry contributed the most to pre-tax profit in the FDI sector, accounting for 81.3% of the total, far ahead of other sectors such as finance, banking and insurance (5.2%), professional, scientific and technological activities (2.9%), real estate business activities (2.2%), and production and distribution of electricity, gas, hot water, steam, and air conditioning (2.1%).

Despite reporting losses for many consecutive years, many FDIs enterprises have kept expanding investment and production, focusing on the manufacturing and processing industry, wholesale and retail trade, and professional, scientific, and technological activities.