Vietnam has secured foreign investment commitments totalling $11.07 billion from January to May, a 2% increase compared to the same period last year, according to the Ministry of Planning and Investment (MPI)’s Foreign Investment Agency.

Of these pledges, $7.94 billion was allocated to new projects, marking a 50.8% increase, with the remaining amount directed towards additional investment in existing projects and acquisitions.

FDI (foreign direct investment) pledges reflect the scale of future FDI disbursements, encompassing newly registered capital, further investment in existing projects, and stake acquisitions.

Up to 67.1% of the investment was directed to the manufacturing and processing industry, VN Express reports, whilst pledges from Singapore were the highest this year, amounting to $3.25 billion.

Furthermore, according to the Ministry of Industry and Trade (MoIT), the majority of the foreign direct investment was directed to localities with robust infrastructure, stable human resources, efforts in administrative procedure reform, and active investment promotion.

These include Ba Ria – Vung Tau, Hanoi, Bac Ninh, Ho Chi Minh City, Dong Nai, Quang Ninh, Bac Giang, Hai Phong, Thai Nguyen, and Hung Yen.

In addition, the disbursement of FDI capital increased 7.8% during the first five months of the year to $8.25 billion.

Vietnam registered 40,285 valid projects as of 20th May, with a combined capital of $481.33 billion. Approximately $305.43 billion has been disbursed up to now.