Vietnam attracted $20.52 billion in registered foreign direct investment (FDI) during the first eight months of 2024, marking a 7% year-on-year (YoY) increase, according to the country’s Foreign Investment Agency. FDI disbursement reached $14.15 billion, up 8% YoY, the highest for the January-August period in the past five years.
New projects accounted for nearly $12 billion in registered FDI, representing a 27% rise in value and an 8.5% increase in the number of projects. Additionally, $5.7 billion was added to 926 existing projects, reflecting a 4.9% rise in capital and a 14.8% surge in project number.
However, foreign investment through capital contributions and stake purchases in local firms declined by 40.9%, amounting to nearly $2.81 billion.
Manufacturing and processing continued to dominate foreign investments, drawing $14.17 billion, or over 69% of total FDI, reflecting a 7.4% increase YoY. Real estate followed with $3.36 billion, while the wholesale and retail sector attracted $844.9 million.
Singapore emerged as the top foreign investor with $6.79 billion, followed by Hong Kong with $2.4 billion, surging by 75.5% and 43.7% YoY, respectively. The northern province of Bac Ninh led FDI inflows, receiving nearly $3.47 billion, a 2.94-fold increase YoY, followed by Quang Ninh and Ho Chi Minh City.
The data underscores Vietnam’s growing appeal as an investment destination, particularly in manufacturing and real estate.
