According to official data released on Oct 27, Vietnam experienced a significant increase in foreign investment during the month of October. The manufacturing sector, which has been a key attraction for investors, received more than double the amount of financial pledges it has been receiving each month this year. This surge in investment can be attributed to the substantial increase in expenditure for the establishment of new manufacturing plants.

In the month of October, the Southeast Asian country has managed to secure foreign investment commitments amounting to $5.3 billion, which is significantly higher than the average monthly investment of $2.2 billion observed throughout the rest of the year.

From the beginning of the year, the nation has obtained foreign investment commitments amounting to $25.76 billion, representing a 14.7% increase compared to the corresponding period of the previous year.

The manufacturing and processing industry saw three-quarters of them going there.

The highest pledges this year came from China and Hong Kong, with Singapore and South Korea following closely behind. According to the data, the investment in the initial ten months of 2023 increased by 2.4% compared to the corresponding period last year, amounting to $18 billion.