China leads in the number of new projects

After 3 years since entering the Vietnamese market, Chinese electric motorbike company Yadea has revealed its plan to expand its scale in our country. Accordingly, the company will start construction on a new factory located in Tan Hung industrial park (Bac Giang) in the fourth quarter of this year with a total investment of 100 million USD. This new facility is expected to come into operation in 2025 with an area of ​​230,200 square meters and a capacity of up to 2 million vehicles/year. In addition, this group will also continue to open a Research and Development Center (R&D) in Bac Giang province.

Previously, in July, the People’s Committee of Dong Nai province awarded an investment registration certificate to the HKC technology factory (Vietnam), which was rented by the enterprise in Nhon Trach to produce TV screens. The project is invested by HKC Overseas Limited Group (China) with registered capital of 10 million USD.

The above units have extended the list of Chinese investors pouring capital into Vietnam. According to data from the Ministry of Planning and Investment, in the first 8 months of 2023, there were 100 countries and territories investing in Vietnam. Of which, China ranked second with nearly 2.69 billion USD, accounting for 14.8% of total investment capital, an increase of 90.8% over the same period. In terms of number of projects, China leads in the number of new projects with a rate of 20.7%, surpassing other big names such as Korea, Japan, Singapore...

Investment flows from China to Vietnam have changed significantly in recent years with a variety of industries and fields. From restaurants, hotels, consumer goods... recently it has expanded to textiles, footwear, textile fibers, mineral exploitation, and industrial parks are attracting FDI capital flows from China.

The largest projects that China has invested in Vietnam to date include the Vinh Tan 1 thermal power project in Binh Thuan province and the Radian tire manufacturing project in Tay Ninh. Along with that, Chinese enterprises also invest in industrial parks such as Dinh Vu (Hai Phong), Hoa Phu (Bac Giang), Nam Tan Uyen (Binh Duong) and Chau Duc (Ba Ria - Vung Tau). ...

China is an investor with enormous potential

Talking to Lao Dong, Prof. Dr. Nguyen Mai - Chairman of the Association of Foreign Investment Enterprises - said that China is proving to be an investor with extremely great potential. Not only Vietnam, Chinese investors have invested in many countries around the world, including countries like the US or EU, all want to attract and take advantage of this capital source.

"Not only in 2023 but also from now until 2025 and longer, Vietnam will become a destination for Chinese investors. China cannot miss investment opportunities in Vietnam by taking advantage of partners. Favorable export cooperation to trade goods" - Mr. Mai shared.

The expert gave evidence about the event of the Vietnamese business delegation participating in the 18th China International Small and Medium Enterprise Fair that took place in Guangzhou City, Guangdong (China) last June. Or in October, the 2023 China Import-Export Fair Promotion Conference will take place also in Guangzhou City. This is considered one of Vietnam’s efforts to support businesses in restoring production, expanding distribution systems and enhancing export efficiency to the billion-people market.