Foreign investment in Vietnam up 51.1% YoY in Jan-May 2024

The sharp rise includes newly registered capital, adjustments to existing projects and capital contributions or share purchases by foreign investors, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

The number of newly registered projects during the five months was 1,549—up by 14.1 per cent YoY, totalling over $7.02 billion in capital.

Six hundred and seventy two projects adjusted capital upward, with an additional $8.51 billion—3.4 times higher than the same period last year.

The number of share purchases and capital contributions was 1,358, totalling $2.85 billion, nearly 1.8 times higher YoY, a domestic news agency reported.

The manufacturing and processing sector led in attracting FDI, drawing in $10.39 billion, or 56.5 per cent of total registered investment during the period, followed by real estate with $4.99 billion, more than double the amount in the same period last year.

Singapore maintained its top position with over $4.38 billion in FDI—up by 30.1 per cent YoY. South Korea followed with $2.93 billion—2.47 times higher YoY. Other major investors included China, Japan and Malaysia.

Hanoi attracted the most FDI among localities, registering $3.2 billion—up by nearly 2.8 times, followed by Bac Ninh and Ho Chi Minh City, with both seeing investments surge by over 2.5 times compared to the same period last year.

Meanwhile, outbound investment by Vietnamese businesses also increased significantly, with $317.3 million invested in overseas ventures—over 2.3 times the amount in the same period last year. Key destinations included Laos, Indonesia and the Philippines.

Fibre2Fashion News Desk (DS)