Vietnam attracts nearly USD 21.3 billion in FDI funds from CPTPP 64 chars

In the two years from 2019 to 2020, Vietnam has attracted nearly US$21.3 billion in foreign direct investment (FDI) from the member states of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Singapore and Japan are the largest investors.

The report of “Evaluating the Implementation of the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership from the perspective of enterprises for two years” implemented by the Vietnam Chamber of Commerce and Industry (VCCI) reflects the FDI investment of CPTPP member countries.

According to statistics from the Ministry of Planning and Investment of Vietnam, in the first year of CPTPP implementation-in 2019, Vietnam attracted nearly US$9.5 billion in FDI investment funds from CPTPP countries, a decrease of nearly 36% from 2018, of which the newly registered capital is US$4.05 billion, a decrease of 51.3%, new capital was US$1.6 billion, a decrease of 50.6%, and the total amount of investment in the purchase of shares reached US$4.4 billion, an increase of 36.5

It is worth noting that despite the decrease in total registered capital, the number of new projects has increased by 13% compared to 2018. The average scale of new FDI projects in CPTPP countries has dropped significantly, from nearly 11 million U.S. dollars in 2018 to 4.7 million U.S. dollars in 2019.

Regarding partners, Japan's FDI investment in Vietnam fell the most, from nearly US$9 billion in 2018 to more than US$4 billion (down 52%). FDI funds from traditional investment countries such as Australia and Malaysia also fell sharply. The rates are 63% and 50%, respectively.

Although the amount of investment from traditional investment countries such as Japan, Australia, Malaysia, and Singapore has dropped sharply in 2019, new partners such as Canada and Mexico or small-scale traditional partners such as Brunei and New Zealand from the agreement have shown positive improvements. This shows that CPTPP is having a positive impact on new partners.

The report pointed out that compared with the bleak scene in 2019, the result of FDI in the CPTPP region in 2020 is even more impressive, reaching $11.8 billion, an increase of 24.4% . In the context of the epidemic, CPTPP and FTA are creating their own appeal for Vietnam.

Therefore, two years after implementing the new-generation FTA, Vietnam has attracted nearly US$21.3 billion in FDI funds from CPTPP countries. Among them, Singapore's funds reached nearly 13.5 billion U.S. dollars, followed by Japan with 6.5 billion U.S. dollars.

Source: inf.news/