On the last day of March, the domestic subsidiary of Victory Giant Technology Corporation received approval for its investment adjustment worth $260 million, bringing the total funding to $520 million.

A day previously, a groundbreaking ceremony was held for its factory, located at Vietnam-Singapore Industrial Park in the northern province of Bac Ninh. It will specialise in the research, development, production, and trading of high-precision multilayer PCB boards, flexible circuit boards, and more. The products are widely used in fields such as AI, large-scale data centres, industrial internet, green energy vehicles, aerospace, and medical equipment.

On March 31, Hainan Goertek Company from China received approval for its new project, also located in Bac Ninh, to manufacture electronic components, printed circuit boards, product control devices, and smartwatches, with a total investment of $270 million.

On March 18, at Song Khoai Industrial Park in Quang Ninh’s dynamic coastal economic zone, Lite-On Technology Group broke ground on a new factory.

The complex will cover 30 hectares with a total investment of $690 million, with two factories and one office building. Lite-on Technology is a provider of optoelectronic semiconductor components and power management modules from Taiwan.

The factory will specialise in manufacturing electronic computer components, cameras, wireless network connection devices, power converters, and many other devices.

Potential capital also comes from the connection between international organisations and their clients. On April 3, Standard Chartered Vietnam CEO Nguyen Thuy Hanh said that the group will enhance activities to connect foreign investors with the Vietnamese market.

With a network of several large-scale clients in over 50 markets, Standard Chartered’s move will contribute to promoting high-quality foreign capital to the country.

“Standard Chartered is supporting the entire supply chain, and we will continue to do so in Vietnam. We bring our clients from the network into Vietnam, supporting them when they have the initiative to invest in Vietnam. Furthermore, we also have a large client base of local Vietnamese companies, and we connect them with our network and support them to expand regionally and globally as well,” said Hanh.

According to statistics published by the Foreign Investment Agency under the Ministry of Finance, in the first quarter, Vietnam attracted $10.98 billion in foreign direct investment (FDI), an increase of 34.7 per cent compared to last year.

The figure includes $4.33 billion in newly-registered capital, down 31.5 per cent from the same period last year.

Meanwhile, an addition of $5.16 billion was registered for 401 existing projects, over five times higher than that of the same period last year in terms of capital.

Capital contributions and share purchases increased by 83.7 per cent to more than $1.49 billion. The disbursed volume of FDI reached about just under $5 billion, up 7.2 per cent against the same period last year.

Many foreign investors are paying attention to Vietnam’s investment environment, and have repeatedly shared recommendations to address obstacles and unlock foreign investment flow into high-quality sectors.

Investors are increasingly interested in green, clean projects that apply advanced technology. On April 9, for example, Lego Group officially opened its much-lauded factory at Vietnam-Singapore Industrial Park III in the southern province of Binh Duong, marking the company’s sixth factory globally.

The $1 billion factory is the group’s most environmentally sustainable factory to date, and will run on 100 per cent renewable energy by early 2026.

Niels B. Christiansen, Lego Group chief executive officer, said, “This state-of-the-art site reflects our commitment to sustainable growth and innovation, bringing more Lego play experiences to children and our fans in Asia-Pacific through increased manufacturing capacity.”

To fully seize these opportunities, Vietnam, particularly the Ministry of Finance, will study mechanisms to lure the targeted investors.

“The ministry will continue working with others to address obstacles in attracting overseas funding by further improving the business environment to attract high-quality investment,” Minister of Finance Nguyen Van Thang said. “The ministry will also encourage public-private partnerships with corporations and investment funds that have sustainable capital, efficient operations, and strong management experience to invest in strategic infrastructure, AI, semiconductors, and more.”

Source: Vietnam Investment Review