Vietnam attracted  $10.98 billion in foreign direct investment (FDI) in the first quarter of the year, a year-on-year increase of 34.7 per cent, the Government quoted the Foreign Investment Agency (FIA) under the Ministry of Finance as reporting .

The above figure includes $4.33 billion in newly-registered capital, down 31.5 per cent from the same period last year.

Foreign investors increased investment capital by $5.16 billion in 401 existing projects, 5.1 times higher than that of the same period last year in terms of capital.

Meanwhile, capital contributions and share purchases increased by 83.7 per cent to more than $1.49 billion.

The disbursed volume of FDI capital reached about $4.96 billion, up 7.2 per cent against the same period last year.

In the reviewed period, foreign investors invested in 18 out of the 21 economic sectors. Among them, the manufacturing and processing industry took the lead with over $6.79 billion, accounting for 61.9 per cent of the total.

Real estate came second with over $2.39 billion, capturing 21.8 per cent of the total and 44.1 per cent higher than the same period last year.

It was followed by professional, scientific and technological activities, and wholesale and retail trade, with over $591 million and more than $272 million, respectively.

Among 73 countries and territories investing in Vietnam during the January-March period, Singapore was the largest foreign investor, with over $3 billion, or 27.6 per cent of the total. South Korea ranked second with nearly $2.04 billion, followed by China, Japan, and Taiwan.

Foreign investment continued to flow into cities and provinces with more advantages in infrastructure, human resources, administrative procedures, and good investment promotions such as Bac Ninh ($1.9 billion), Ho Chi Minh City ($1.43 billion) and Hanoi ($1.42 billion).