Blog

Foreign investment registered in Vietnam topped $38.05 billion in the first seven months of 2026, up 58% from a year earlier, as a sharp rise in digital technology and energy infrastructure projects helped diversify capital flows, while Ho Chi Minh City emerged as the country’s leading FDI destination.

At calculations of the Foreign Investment Agency (FIA), registered FDI includes newly registered capital, additional capital injected into existing projects, and capital contributed through stake acquisitions.

As many as 2,429 new projects were licensed in the seven-month period, an increase of 7.8% year-on-year, with newly registered capital exceeding $21 billion, up 109.7%.

There were 666 projects (down 27.6%) registering capital increases, with additional capital reaching more than $10.4 billion, up 4.4%.

Foreign investors also carried out 1,815 capital contribution and share purchase transactions, down 8.4% year-on-year in number, while their total value exceeded $6.5 billion, up 61.6%.

In July alone, newly registered capital remained a bright spot, with 416 new projects worth more than $3.6 billion, up 43% from June. Adjusted capital posted a net decline of $614 million, while capital contributions and share purchases totaled $363 million, down 82% from the previous month.

The developments show that new capital flows into Vietnam remain positive, but some existing investors are becoming more cautious about expanding project scale amid fluctuations in international trade, logistics costs and regional competition for investment, against the backdrop of geopolitical conflict in the Middle East and volatility in energy prices, the FIA said.

Digital technology investment surges, Hong Kong rises to third

Manufacturing and processing continued to lead FDI attraction during the first seven months, drawing more than $18.68 billion, or 49.1% of total registered capital. Real estate business ranked second, with more than $5.65 billion, accounting for 14.9%.

A notable change in the sectoral structure was the rise of energy infrastructure and digital technology. Electricity, gas, water supply and air-conditioning production and distribution ranked third, with $3.28 billion, or 8.6% of total registered capital, nearly 10 times the figure recorded in the same period last year.

The information and communications sector surged to fourth place with $3.18 billion, accounting for 8.4% and representing an increase of more than 80 times year-on-year. Professional, scientific and technical activities ranked fifth, with about $2.9 billion.

According to the FIA, the structure shows that FDI remains concentrated mainly in manufacturing and processing, but has diversified significantly into energy infrastructure and digital technology, driven by several large-scale projects.

"This is a positive signal of the trend toward expanding investment flows into infrastructure and technology. However, developments in the coming periods need to be monitored to assess the stability and sustainability of this trend," the agency said.

By investment partner, 91 countries and territories had invested in Vietnam during the first seven months, up from 85 in the first six months.

Singapore remained the largest investor, with more than $10.39 billion, accounting for 27.3% of the country's total registered FDI capital in the seven-month period. South Korea ranked second with more than $8.22 billion, or 21.6%.

Hong Kong rose to third place with $4.91 billion, up nearly 300% year-on-year, overtaking mainland China with $3.69 billion and Malaysia with $3.04 billion.

The five leading investment partners accounted for about 79.5% of total registered capital, down from 91% in the first six months, indicating that investment flows are becoming more diversified by source, although Asia remains dominant.

Another notable development was Indonesia's rise to sixth place, 30 positions higher than the same period last year, largely driven by capital contribution and share purchase transactions.

The FIA said the trend indicates that Indonesian companies are using equity investments and share purchases as a means of rapidly expanding their presence in the Vietnamese market.

China continued to lead in the number of newly registered projects, with 849 projects, accounting for 35% of the total. It also led in capital contribution and share purchase transactions, with 494 deals, or 27%.

South Korea and China both ranked first in the number of capital adjustments, with 125 each, further highlighting continued interest among Chinese companies in expanding investment in Vietnam amid supply-chain diversification.

HCMC leads, investment remains concentrated in major hubs

By location, foreign investors had invested in 30 of Vietnam's 34 provinces and cities during Jan-July.

HCMC moved to the top with more than $10.34 billion in registered capital, accounting for 27.1% of the country's total and up 157.1% year-on-year. The city also led nationwide in the numbers of newly licensed projects (1,235), capital adjustments (189), and capital contribution and share purchase transactions (1,224).

Several large-scale projects have strengthened the city's position as Vietnam's leading FDI destination.

Notably, the Berjaya Vietnam International University Township project of Berjaya Corporation Berhad (Malaysia) registered an increase of about $2.8 billion in investment capital, while Evolution DC VN HCMC JSC's data center project was valued at more than $508 million.

The southern hub also granted investment certificates to four high-tech projects at the Saigon Hi-Tech Park, with combined capital exceeding $1.23 billion.

Thai Nguyen ranked second with more than $8.06 billion, accounting for 21.1% of total registered capital. FDI into the northern province surged more than 22-fold year-on-year, mainly thanks to several very large-scale projects.

Hanoi came third with nearly $3.62 billion, or 9.5%; followed by its neighboring Bac Ninh province with $3.23 billion, or 8.5%. Meanwhile, Nghe An province in central Vietnam surged to fifth place with $2.38 billion, up nearly 680% year-on-year.

According to a report by the Hanoi People's Committee, although the capital's total registered FDI in the first seven months fell 9.7% year-on-year, the structure of investment flows shifted more positively toward high technology and innovation.

Professional, scientific and technical activities led with about $2.233 billion, accounting for more than 65% of the city's total, while information and communications attracted $298.7 million.

The concentration of investment remains a point of concern. HCMC and Thai Nguyen alone accounted for nearly half of the country's total registered capital. According to the FIA, this continues to underscore the need for a more balanced distribution of FDI among localities, alongside leveraging the strengths of established industry clusters.

In terms of FDI-sector activity, exports including crude oil were estimated at more than $255.8 billion, up 26.4% and accounting for 80.1% of the country's total export turnover. Exports excluding crude oil exceeded $255 billion, up 26.5% year-on-year.

On the import side, the FDI sector recorded more than $247.9 billion, up 39.2% and accounting for 73% of the country's total import turnover. Overall in the first seven months, the FDI sector posted a trade surplus of more than $7.9 billion including crude oil, while domestic enterprises recorded a trade deficit of more than $28.5 billion.

The FIA said FDI flows into Vietnam continued to expand as many multinational corporations shifted from a "wait-and-see" approach toward gradually spreading risks through "China + 1" strategies or by diversifying production locations.

However, competition for investment in the region is intensifying, particularly in semiconductors, artificial intelligence, data centers and renewable energy. This requires Vietnam to continue improving its power infrastructure, logistics, high-quality human resources and investment environment in order to maintain its position as a preferred investment destination.

The seven-month results show that Vietnam continues to have strong appeal in terms of the scale of registered capital. The more important challenge, however, is to convert these capital flows into actual investment, technology, production capacity and deeper linkages with domestic businesses.

Household deposits at credit institutions reached VND11.07 quadrillion (US$424.57 billion) at the end of June, up 7.1 percent from the end of 2025, according to the State Bank of Vietnam (SBV).

Household bank deposits have surpassed VND11 quadrillion for the first time. Photo: Le Thanh / Tuoi Tre

Household deposits increased by around VND242 trillion ($9.2 billion) in June alone and by about VND733 trillion ($27.9 billion) in the first six months of the year.

Meanwhile, deposits by economic organizations reached around VND6.37 quadrillion ($242 billion) at the end of June, up more than 3.09 percent from the end of 2025. Their deposits increased by around VND203 trillion ($7.7 billion) in June.

Household deposits therefore grew more than twice as fast as deposits by economic organizations in the first half of the year.

Credit growth puts pressure on interest rates

Total deposits by households and economic organizations reached around VND17.44 quadrillion ($663 billion) at the end of June.

Meanwhile, total money supply, including cash and bank deposits circulating in the economy, exceeded VND20.4 quadrillion ($775 billion), up 4.99 percent from the end of 2025.

Outstanding credit across the banking system topped VND20.15 quadrillion ($766 billion) as of July 29, up 8.38 percent from the end of 2025, the central bank said.

Can Van Luc, a member of the National Monetary and Financial Policy Advisory Council, said capital demand remained high, particularly as Vietnam targets double-digit economic growth.

The gap of around VND1.4 quadrillion ($53 billion) between deposits and outstanding credit is putting pressure on interest rates, he said.

Prime Minister Le Minh Hung on Thursday chaired a meeting with the SBV and credit institutions to review monetary policy and banking operations during the first seven months of the year and discuss measures for the coming period.

Hung asked the central bank to maintain appropriate policy interest rates and increase market liquidity to help credit institutions access lower-cost funding.

The SBV was also told to manage the exchange rate flexibly in line with market developments, coordinate monetary policy tools and intervene when necessary to stabilize the foreign exchange market, while continuing to closely manage the gold market.

Credit institutions must cut operating costs, stabilize interest rates and make substantive reductions in lending rates, the prime minister said.

Rising deposit rates attract savers

Household deposits have increased as some banks raise deposit rates, particularly for medium-term and long-term maturities.

Six-month deposit rates at some banks have reached nine percent per year, depending on deposit conditions and size.

N., a resident in Hanoi, said she deposited VND300 million ($11,400) at SHB earlier this week for six months at an annual interest rate of nine percent.

The rate for the same amount at the same bank is now around 0.1 percentage point higher than it was two weeks ago, she said.

Economist Nguyen Thuong Lang said the growth in deposits showed that banks remained an important channel for households to hold their money.

The presence of global giants is laying the groundwork for the northern province to gradually build a semiconductor ecosystem.

Northern Bac Ninh province has so far attracted 33 projects in the fields of semiconductors, semiconductor materials, and manufacturing of supporting equipment and components, with a total registered capital exceeding $2.742 billion, the online newspaper of Radio the Voice of Vietnam cited figures from the Provincial Department of Science and Technology as reporting.

Of these, six projects focus on semiconductors and semiconductor materials, while 27 others involve the production of ancillary equipment and components for the industry. Many of these are large-scale investments from major international technology corporations.

Notable examples include Amkor Technology’s project with a total investment of $1.6 billion; Hana Micron Vina with $669 million; Micro Commercial Components with $115 million; Hana Micron Vietnam with $37.46 million; and Synergie Cad Vietnam Co., Ltd. with $21.21 million. Additionally, FPT’s semiconductor testing and packaging technology project has an investment capital of VND50 billion ($1.9 million).

The presence of these global giants is laying the groundwork for the locality to gradually build a semiconductor ecosystem. This development facilitates stronger links between electronics enterprises and the semiconductor industry while enhancing the province's ability to integrate into global supply chains.

Bac Ninh’s success in attracting semiconductor investment is significantly bolstered by its well-established electronics industry. Currently, the province is home to approximately 1,282 electronics companies, employing a workforce of around 481,948 people.

By 2025, the industrial production value of electronics enterprises in the province is projected to reach approximately VND1.85 quadrillion ($71 billion). This established industrial base serves as a crucial advantage, allowing electronics firms to transition into the semiconductor sector and form a highly integrated production and supply network.

In addition to this corporate foundation, the province’s industrial park system continues to be expanded and refined to meet the requirements of high-tech projects. Among the 39 industrial parks that have received investment policy approval, 23 are currently operational.