Newly registered foreign direct investment (FDI) surged nearly 28% year-on-year to $5.3 billion in the first five months.

Share acquisitions among FDI projects rose 67% to $3.3 billion, according to the Ministry of Planning and Investment.

But modified capital, which happens when an investor changes their investment from the original plan, dropped 59% to $2.3 billion.

Together the three components made up the total FDI capital of $11 billion, down 7% year-on-year.

Small projects, valued at under $1 million, accounted for nearly 70% of new projects, which shows an increased interest of small investors in Vietnam while big investors seemed to be reluctant amid concerns of a global minimum tax.

Manufacturing accounted for 61% of newly registered capital at $6.6 billion, the highest in all sectors.

It was followed by finance and banking at $1.5 billion, mostly thanks to the giant acquisition of VPBank shares by Japan’s Sumitomo Mitsui Financial Group.

Investment in property dropped 61% year-on-year to $1.2 billion.

Hanoi led all localities in attracting FDI at nearly $1.9 billion, up 2.7 times year-on-year.

Singapore was the biggest investor at $2.5 billion, followed by Japan on $2.1 billion, and China $1.6 billion.

VnExpress