Foreign direct investment (FDI) pledges to Vietnam in the first three months of 2020 fell by a sharp 20.9% over the same period of 2019 to US$8.55 billion, according to the Foreign Investment Agency.
Bac Lieu province grants a permit for a foreign-invested LNG power station project. (Photo: VNA)
Disbursement also dropped by 6.6% year-on-year to US$3.85
billion, data as of March 20 has shown.
In the first quarter, Vietnam
licensed 758 foreign-invested projects worth a total of US$5.5 billion, mainly
thanks to a US$4 billion liquefied natural gas (LNG) power plant in the
southern province of Bac Lieu.
Such an investment made Bac
Lieu the largest recipient of foreign investment and power generation the most
attractive industry during the period.
Additional pledges to
existing projects and capital contributions and share purchases saw steep
declines to US$1.07 billion and US$2 billion, respectively.
With power generation
occupying the top place, manufacturing was the second most attractive sector
with US$2.72 billion, followed by wholesale and retail with US$682 million.
Ho Chi Minh City was the
second largest recipient of foreign investment with over US$1 billion while the
southern province of Tay Ninh came third with US$506.8 million.
A breakdown of investors
shows that Singapore made the largest investment in Vietnam in the
January-March period with US$4.54 billion, followed by Japan and China with
US$846.7 million and US$815.6 million, respectively.
As of March 20, there were
over 31,600 active foreign-invested projects in the country with total pledges
of US$370 billion, of which 58.3% had been disbursed.
Source: NDO
Hoa Binh province’s economy posted an impressive Gross Regional Domestic Product (GRDP) growth rate of 12.67% in the first quarter of 2025, representing a 12.76% year-on-year increase, the highest rate recorded since the beginning of the current tenure, according to the provincial Statistics Office. This robust growth reflects years of strategic groundwork and sets a strong foundation for the province’s annual growth target of over 10%.
With a focus on cash crop farming with science - technology application and brand building, Lac Thuy district is gradually increasing production value, improving people's life quality, and laying the foundation for sustainable socio-economic development.
In recent years, the economic development model "Hoa Binh Earthworm Farm” run by Mr. Bui Van Dang in Co Giua Hamlet, My Thanh Commune (Lac Son district) has not only brought stable economic value but it is also environmentally friendly, helping to protect and reduce pollution, contributing to the construction of a green and sustainable agriculture.
Dao Village’s honey – a product certified with a 3-star OCOP (One Commune One Product) rating by Thong Nhat Agricultural Cooperative in Dao Village (Hoa Binh City) – is highly regarded by consumers for its quality, richness, and variety in packaging. The distinctively sweet taste of Dao Village’s honey leaves a lasting impression on anyone who has tried it.
In alignment with Project No. 07-DA/TU, issued by the Hoa Binh provincial Party Committee on November 1, 2021, Lac Thuy district has actively promoted investment and supported the sustainable development of its industrial and handicraft sectors during the 2021–2025 period. Alongside this, the district has remained committed to preserving and revitalising traditional craft villages.
Located in the northern part of Lac Thuy district, with a temperate climate and fertile soil, Phu Thanh commune has great potential and advantages in growing tea. The long-standing experience, combined with strict adherence to organic farming practices in the tea gardens, ensures that the dried tea products from Phu Thanh and Lac Thuy as a whole are sold out immediately upon production, providing a stable and prosperous life for the local people.
