HÀ NỘI — Foreign investors continue to show strong interest in Việt Nam, with foreign investments in the first seven months up more than 27 per cent on-year despite geopolitical uncertainties and trade tensions.

A recent highlight is ExxonMobil, the American oil and gas giant, conducting a site survey in the Nam Vân Phong area to explore investment opportunities.

During a meeting with leaders of the management boards of economic and industrial zones in Khánh Hòa Province, ExxonMobil executives revealed the company was considering investing in a modern refinery in Nam Vân Phong.

The project, which would be the firm’s first near-zero-emissions refinery, is expected to be worth around US$10 billion.

Previously, ExxonMobil had explored other investment plans in Việt Nam, including the Blue Whale gas field and gas-fired power plants in the central region, though those plans have yet to be realised.

Whether the energy giant decides to invest in Nam Vân Phong remains to be seen.

ExxonMobil plans to complete surveys by 2027, start construction and regulatory procedures in 2031 and begin operations in 2035.

Aside from Việt Nam, the company is also assessing two other locations in the Asia-Pacific region.

This news has already heated up foreign direct investment (FDI) discussions in Việt Nam, at a time when global investment flows remain cautious due to tariff policies and geopolitical uncertainties.

Foreign investment-related activities in Việt Nam have been particularly vibrant in recent weeks. Bắc Ninh Province granted investment certificates for a series of FDI projects in mid-August this year, including nine new projects with a total registered capital of $322.5 million, and nine capital increases with an additional $762 million.

Two investors have also committed to expansion with a projected additional $300 million. Altogether, the province attracted over $1 billion in new FDI within just one month, a remarkable figure.

After merging with Bắc Giang, Bắc Ninh has further solidified its position as a magnet for investment in the North, with many projects in high technology and semiconductors.

The province currently ranks second nationwide in FDI attraction, after HCM City, both for the first seven months of this year and cumulatively.

Chairman of the Bắc Ninh Province People’s Committee Vương Quốc Tuấn said that the province would continue to improve technical infrastructure, ensure power supply and enhance worker skills to attract more investment projects.

Out of 250 projects that were either inaugurated or broke ground nationwide on August 19, five were FDI projects, with a total investment of VNĐ54 trillion ($2.1 billion).

Upgrading quality with European and US capital

Việt Nam’s real estate market has also seen heightened mergers and acquisitions (M&As) since the start of the year, with a wave of large-scale deals driven by foreign investors, according to Savills Vietnam. 

Among the standout transactions, Capitaland acquired a project from Becamex IDC for $553 million in the former Bình Dương Province. Meanwhile, a consortium of Sumitomo Forestry, Kumagai Gumi and NTT Urban Development teamed up with Kim Oanh Group to develop the One World project, and Nishi Nippon Railroad purchased a 25 per cent stake in Nam Long’s Paragon Đại Phước project. 

These deals underscore growing interest from Japanese, South Korean and Singaporean investors, alongside an increasing flow of capital from the US and Europe, markets known for long-term strategies and high investment standards. 

Industrial real estate continues to attract strong attention thanks to competitive labour costs and strategic positioning. New projects are underway, including two industrial parks: Becamex IDC in Bình Dương (1,080ha) and the Vietnam – Singapore Industrial Park (VSIP) in former Nam Định Province (180ha), scheduled to break ground in the third quarter of this year. 

In housing, suburban developments dominate. Vingroup has started work on the 2,870ha Vinhomes Green Paradise in Cần Giờ (HCM City); Sun Group launched the 96.6ha Sun Blanca City; and Masterise Homes is rolling out the Masteri Rivera project with over 1,100 apartments in Đà Nẵng. 

The retail segment is also expanding, with AEON Mall strengthening its presence in the Mekong Delta through two new projects: the recently opened AEON Mall Long An and the 8.5ha AEON Mall Cần Thơ, now under construction. 

FDI inflows

In parallel, FDI inflows remain on an upward trajectory. The National Statistics Office reported that total registered FDI reached $24.1 billion in the first seven months of this year, up 27.3 per cent year-on-year. 

Director of Savills Hanoi Matthew Powell noted that despite global uncertainties and trade tensions, Việt Nam is pressing ahead with structural reforms and sustaining investor confidence. Stable FDI and infrastructure improvements, he said, point to favourable long-term growth prospects. 

The Government has also set an ambitious GDP target for this year, anchored in reforms, increased public investment and stronger private sector support. Key measures include streamlining the administrative system by consolidating 63 provinces and cities into 34, and phasing out the district level to enhance efficiency and create more investor-friendly conditions. 

In addition, the Politburo's Resolution 68 seeks to advance private sector development through legal reforms, reduced business barriers, improved access to land and finance, protection of property rights and promotion of fair competition. 

On the trade front, Việt Nam is working to narrow tariff gaps with the US and has proposed cuts on import duties for American goods. Efforts are also being stepped up to curb counterfeit and transit goods, diversify trade partnerships and deepen international economic integration. 

Tourism and aviation are likewise benefitting from surging international arrivals. Beyond the sharp rebound in visitor numbers, major initiatives are in progress, including hosting APEC 2027 in Phú Quốc, airport expansions and the launch of Sun Phu Quoc Airways, reflecting a coordinated development vision across both public and private sectors. — VNS