FDI firms power Vietnam’s exports

09:09 | 03/01/2024 FDI Follow Ven.vn on

Foreign firms contributed 259.95 billion USD or 73.1% of Vietnam’s total export revenue in 2023, statistics show.

The sector has played a crucial role in the national economy, as reflected through its export turnover, job generation, and the formation of supply chains in such key industries as electronics, machinery, garment-textile and footwear.

The FDI sector plays a crucial role in the national economy. (Photo: VNA)

Notably, 2023 marked the eighth consecutive year Vietnam had run a trade surplus, reaching a record high of 28 billion USD, with the FDI sector contributing a whopping 90% in many major areas.

Specifically, the firms accounted for 99.6% in phones, over 98% in computers, 93% in machinery, and more than 60% in garments-textiles.

Vietnam has been named among the top 20 economies with the largest trade scale globally, significantly contributed by the FDI sector. The large FDI influx has created a foundation to advance the country on the global trade map.

Last year, with 275.9 billion USD, the sector's export earnings equated to 74% of the country’s accumulative export revenue.

Source: VNA

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