Binh Duong (VNA)– Global investors are planning to restructure their investment flows, a movepredicted to take place strongly from now to 2023 and create opportunities forVietnam, heard a conference on September 21.

Registered foreign investmenttotaled 16.7 billion USD as of the end of August, down 12.3% from a yearearlier. However, the investment disbursement rose 10.5% to 12.8 billion USD andcapital addition to existing projects up 50.7% to 7.5 billion USD.

Notably, the average value ofeach project reached 14.7 million USD, compared to the over 10 million USD in2021, Do Nhat Hoang, Director of the Foreign Investment Agency (FIA) at theMinistry of Planning and Investment, told the event in Binh Duong province.

In the southern region, Ho ChiMinh City took the lead in foreign investment attraction, followed by BinhDuong, Dong Nai, Ba Ria - Vung Tau, Long An, and Tay Ninh. Binh Duong alonerecorded nearly 2.6 billion USD, surging 72% year on year, statistics show.

Hoang pointed out that due torecent global uncertainties and disrupted supply chains as a result of theCOVID-19 pandemic and China’s “zero-COVID” policy, investment flows are beingshifted to new markets, and this is a chance for Vietnam in general andsouthern localities in particular.

To seize opportunities,localities should connect with one another to develop an attractive ecosystem fortechnology investors, he recommended.

Vietnam is to become adestination for power, electronics, processing and manufacturing projects from investors from the Republic of Korean who are seeking new places for their exportproduction facilities. Such sectors as wholesale, retail, non-manufacturing,and support industry will also continue attracting Japanese investors andenterprises, he added.

The FIA held that in the nexttwo - three years, tech firms will still choose Vietnam as a prioritydestination for new investments or investment expansion, especially in manufacturing.Many “hot” industries such as technology, pharmaceutical, and energy are likelyto be magnets for investment.

To make use of the shift inglobal production chain and FDI flows, the FIA advised provinces and cities to attracthigh-quality investments that suit Vietnam’s demand, prepare a skilledworkforce, reform investment promotion and management activities, apply digitaltechnologies to quickly handle procedures, and step up administrative proceduresimplification.

Foreign investment will keepgrowing in 2022 and make breakthroughs in the years to come as countries aregradually reopening their economies and adapting to the new normal, the agencyadded./.