Registered foreign direct investment (FDI) in Vietnam totaled $27.26 billion in the first 10 months of this year, up 1.9% year-on-year, according to the Ministry of Planning and Investment.

Registered capital comprises capital for newly-registered projects, additional capital for existing projects, and capital for stake acquisitions.

Data in billions of USD.

For the 10-month period, $12.23 billion was pledged for 2,743 newly-registered projects, down 2.5% and up 1.4% year-on-year, respectively.

The ministry atributed the changes to the trend of many small-scale projects and only a few ones worth $100-300 million, versus three projects worth between $500 million and $1.5 billion each recorded in January-October 2023.

Additional capital for 1,151 existing projects reached $8.35 billion, up 6% and 41.7% year-on-year, respectively.

About $3.68 billion came from 2,669 capital contribution and share acquisition deals, down 29% and 10.4%, respectively. This was the only category that recorded a year-on-year decrease in capital.

The ministry highlighted that the 10 biggest recipients – Bac Ninh, Ho Chi Minh City, Quang Ninh, Hai Phong, Ba Ria-Vung Tau, Binh Duong, Hanoi, Dong Nai, Bac Giang, and Ninh Thuan – accounted for 70.9% of the registered FDI in Vietnam in the 10-month period. The ministry attributed the strong performance to those localities’ infrastructure, abundant workforce, and efforts to streamline administrative procedures.

The biggest investors were Singapore, mainland China, South Korea, Japan, and Hong Kong, making up 76.5% of the FDI tally in January-October. Singapore, mainland China, and South Korea were the top with $7.79 billion, $3.61 billion, and $3.56 billion, respectively.

In terms of project numbers, China topped the chart with 789, followed by Singapore with 377, and South Korea with 330.

The FDI disbursement in the 10-month period reached $19.58 billion, up 8.8% year-on-year.

An under-construction factory of Foxconn in Bac Giang province, northern Vietnam. Photo courtesy of Market Times magazine.

Vietnam has so far attracted 41,501 valid FDI projects with a total registered capital of $492.26 billion. Disbursement has reached $316.76 billion, or 64.3% of the registered FDI, ministry data shows.

The biggest investors have been South Korea with $87.4 billion, or 17.8% of the total; and Singapore with $81.1 billion, or 16.5%.

The top FDI recipients in Vietnam have been HCMC with $58.3 billion, or 11.8% of the total; followed by Hanoi with $42.2 billion, or 8.6%; and the southern province of Binh Duong with $42.1 billion, or 8.6%.