Updates from the Viet Nam Foreign Investment Agency under the Ministry of Planning and Investment revealed that data as of November 20, showed newly registered FDI capital hit nearly US$15.8 billion, down 20.3% year on year.

With US$7.4 billion in additional funding to existing projects, total FDI pledges in the January-November period were estimated at US$23.2 billion.

The manufacturing sector remained the largest recipient of FDI, accounting for more than 47.1% of total commitments, followed by property trading at 33% and other sectors at 19.9%.

Notably, foreign capital flow to buy stakes in Viet Nam rose by 44.4% to total $7.6 billion.

A breakdown of capital sources shows that Japan was the largest investor with approximately US$6.1 billion while the Republic of Korea and Singapore came second and third with US$3.4 billion and US$1.1 billion, respectively.

Ha Noi was the top destination for FDI flow which attracted $6.3 billion in registered capital. HCM City ranked second with registered capital of $5.6 billion, then Hai Phong with $2.49 billion registered capital.

Pledges of US$1.8 billion to Ba Ria-Vung Tau earned the province the second position while Binh Duong province was placed third with US$953 million.

Conversely, Viet Nam invested a total of US$357 million in overseas projects in the first 11 months of the year, mainly in finance-banking, agriculture and manufacturing.

The Republic of Korea was the largest investor in Viet Nam with total registered capital of $62.2 billion, so far and Japan came second with total registered capital of $56.4 billion.

After about three decades of attracting FDI, Viet Nam was now more selective, targeting to attract quality capital flow into technology-rich and environmentally-friendly industries and boost the development of local companies through setting up value chains.