Vietnam attracted FDI of nearly $36.61 billion in 2023, up 32.1 per cent year-on-year, according to the Foreign Investment Agency (FIA) at the Ministry of Planning and Investment.

There were 3,188 new FDI projects granted investment licenses during the year, with total registered capital of over $20.19 billion, up 56.6 per cent in number and 62.2 per cent in capital year-on-year.

Meanwhile, more than $7.88 billion was added to 1,262 existing FDI projects.

Investment through capital contributions and share purchase deals hit over $8.5 billion, up 65.7 per cent compared to last year despite a 3.2 per cent decline in the number of transactions.

Investment this year was concentrated in localities possessing advantages like good infrastructure, stable human resources, and improvements in administrative reform and investment promotion, such as Ho Chi Minh City, Hai Phong, Quang Ninh, Bac Giang, Hanoi, Bac Ninh, Binh Duong, and Dong Nai, according to the FIA.

Foreign investors invested in 18 of the 21 economic sectors, with manufacturing and processing topping the list with $23.5 billion, or 64.2 per cent of the total and up 39.9 per cent year-on-year. Real estate attracted nearly $4.67 billion, up 4.8 per cent, power production and distribution $2.37 billion, up 4.9 per cent, and banking and finance $1.56 billion, up nearly 27-fold.

There were 111 countries and territories investing in Vietnam during the year, led by Singapore, with over $6.9 billion, up 5.4 per cent year-on-year, followed by Japan with nearly $6.57 billion and Hong Kong (China) with $4.68 billion.