Vietnam attracted a total of $10.76 billion in new foreign direct investment (FDI) from January to July, marking a substantial increase of 35.6 per cent compared to the same period last year, according to the latest data from the Foreign Investment Agency. Additional capital reached $4.97 billion, up 19.4 per cent, while foreign investment through capital contributions and stake purchases declined by 45.2 per cent to $2.27 billion.

The processing and manufacturing sector led the way with over $12.65 billion in investments, accounting for 70.3 per cent of the total registered FDI and representing a 15.7 per cent increase year on year. By July 20, foreign investors had registered more than $18 billion in Vietnam, an increase of 10.9 per cent over the same period last year. Of this amount, $12.55 billion had been disbursed, up 8.4 per cent.

The average capital per project stood at $5.9 million, surpassing the average for the same period in 2023. Foreign investors were active in 18 out of 21 economic sectors, with the wholesale and retail sectors attracting $740.5 million in total investment, according to Vietnamese media reports.

Among the 91 countries and territories investing in Vietnam, Singapore emerged as the largest investor, committing nearly $6.52 billion, an impressive 79.1 per cent increase. Hong Kong followed as the second largest investor with $2.19 billion, more than double its investment compared to the previous year. Notably, Kyrgyzstan became a new investor in July, with a $5 million project, ranking it as the thirty-fourth largest investor among the 91 countries investing in Vietnam this year.

Fibre2Fashion News Desk (DP)