Vietnam saw a significant increase in foreign direct investment (FDI) in the first ten months of 2023. Over $15.29 billion was invested in 2,608 new FDI projects, marking a 54% increase in capital and a 66.1% rise in the number of projects year-on-year. In total, Vietnam attracted more than $25.76 billion in FDI during this period, representing a 14.7% increase, as reported by the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
The data revealed that over $5.33 billion was added to 1,051 existing projects, with the number of projects increasing by 19.4% year-on-year. Foreign investors also spent more than $5.13 billion on contributing capital to and purchasing shares of domestic companies through 2,836 transactions, marking a 35.4% increase and a 5.4% drop, respectively.
During this period, approximately $18 billion was disbursed for FDI projects, indicating a 2.4% year-on-year increase. A total of 18 out of 21 economic sectors received FDI during the first ten months, with the processing and manufacturing industry leading the way with nearly $18.84 billion, accounting for nearly 73.1% of the total and rising 45.8% year-on-year. Singapore was the top investor with nearly $4.65 billion, followed by the Republic of Korea with nearly $3.93 billion, and Hong Kong (China) with nearly $3.54 billion.
Asian investors dominated FDI flows into Vietnam, with Singapore, China, Japan, the Republic of Korea, Hong Kong, and Taiwan accounting for 81.7% of the total value. The top-performing provinces and cities in attracting FDI were Quang Ninh, Hai Phong, Hanoi, Ho Chi Minh City, and Bac Giang province. Ho Chi Minh City led in attracting new projects, projects with additional capital, and capital contribution and share purchasing transactions.