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Alongside registered capital, disbursed foreign direct investment (FDI) also reached a record high of $24.08 billion, up 13.1 per cent on-year and the highest 10-month figure in the past five years.

According to the Foreign Investment Agency under the Ministry of Finance, as of October 31, total registered FDI in Vietnam reached $54.85 billion, up 74 per cent on-year and the highest level since 2009.

Apart from the first 10 months of last year, when registered FDI was $31.52 billion, total registered capital during the same period in other years since 2017 had generally remained above $20 billion. The previous high was recorded in the first 10 months of 2019, at $29.11 billion. The corresponding figures were $28.24 billion in 2017, $26.76 billion in 2023, and $27.26 billion in 2024.

Between 2009 and 2016, Vietnam attracted considerably lower levels of FDI in some years. Registered capital stood at just $6.68 billion in the first 10 months of 2012 and $8.88 billion in the same period of 2011. The highest figure during this period was $19.29 billion, recorded in 2015.

Attracting more than $54.85 billion in registered FDI in the first 10 months of 2026 once again underscores Vietnam's appeal as an investment destination. Of the total, $30.73 billion came from newly registered projects, $16.13 billion from additional capital injected into existing projects, and $7.99 billion from foreign investors' capital contributions and share purchases.

Specifically, 3,478 new projects were licensed during the 10-month period, representing a 4.7 per cent increase in the number of projects on-year, while their combined registered capital more than doubled, rising 2.2-fold.

Manufacturing and processing remained the leading sector in attracting newly registered capital, with $14.61 billion, accounting for 47.5 per cent of the total. Transportation and warehousing ranked second with $5.15 billion, or 16.7 per cent, while other sectors attracted a combined $10.98 billion, equivalent to 35.8 per cent.

In terms of investment partners, Singapore was the largest source of newly registered FDI among the 80 countries and territories with new investment projects in Vietnam during the period. Its registered capital reached $9.52 billion, accounting for 31 per cent of the total.

South Korea ranked second with $5.81 billion, or 18.9 per cent, followed by Luxembourg with $4.99 billion (16.2 per cent), Hong Kong with $3.57 billion (11.6 per cent), China with $2.77 billion (9 per cent), Japan with $1.58 billion (5.1 per cent), and the Netherlands with $438.5 million (1.4 per cent).

Alongside the strong performance in registered capital, realised FDI in Vietnam continued its upward trajectory, reaching $24.08 billion in the first 10 months of 2026, up 13.1 per cent on-year. This was the highest disbursement figure recorded for the same period over the past five years.

Manufacturing and processing accounted for the largest share of realised FDI, at $19.96 billion, equivalent to 82.9 per cent of the total. Realised investment in real estate activities reached $1.76 billion, accounting for 7.3 per cent, while electricity, gas, hot water, steam, and air-conditioning supply attracted $785.2 million, or 3.3 per cent.

The continued increase in realised FDI is expected to make an important contribution to expanding production capacity and supporting economic growth.

Regarding additional investment, 1,079 existing projects registered capital adjustments during the first 10 months, with total additional capital reaching $16.13 billion, up 33.2 per cent on-year. As a result, the combined newly registered and additional capital of foreign-invested projects reached $46.86 billion.

Manufacturing and processing accounted for $24.19 billion, or 51.6 per cent of this total, followed by real estate activities with $7.08 billion (15.1 per cent). Other sectors attracted a combined $15.59 billion, equivalent to 33.3 per cent.

Regarding capital contributions and share purchases, foreign investors conducted 2,616 transactions during the 10-month period, with a combined value of $7.99 billion, up 49.6 per cent on-year.

Of these, 828 transactions involved capital contributions and share purchases that increased the charter capital of domestic enterprises, with a total value of $3.28 billion. The remaining 1,788 transactions involved foreign investors acquiring shares in domestic companies without increasing their charter capital, amounting to $4.71 billion.

In terms of sectors attracting investment through capital contributions and share purchases, professional, scientific, and technical activities received $2.78 billion, accounting for 34.8 per cent of the total. Wholesale and retail trade, and repair of motor vehicles and motorcycles attracted $2.17 billion, or 27.1 per cent, while other sectors received $3.05 billion, equivalent to 38.1 per cent.

Vietnamese Prime Minister Le Minh Hung has called on Airbus to consider setting up an aircraft maintenance, repair and overhaul (MRO) center in Vietnam, particularly near the under-construction Long Thanh and Gia Binh international airports, as the country seeks to expand its aviation industry.

Hung made the call during a meeting with Airbus's president international Wouter van Wersch in Hanoi on Wednesday, marking 40 years since the European aircraft manufacturer began operating in Vietnam.

The PM praised Airbus's four decades of cooperation with Vietnam, noting that the company supplies a substantial portion of the fleets operated by Vietnamese airlines and has also partnered with the country in satellite observation.

Vietnam's population of more than 100 million, rising incomes and large-scale infrastructure investment are creating substantial demand for aviation development and fleet expansion, Hung said. Major projects include Long Thanh and Gia Binh international airports, alongside new economic zones and logistics infrastructure.

He urged Airbus to deepen its partnership with Vietnam through projects commensurate with the country's growing aviation ambitions and the company's capabilities. Cooperation should cover aerospace projects, technology development and transfer, research, high-skilled workforce training, manufacturing capacity, aviation safety oversight, and flight operations, Hung elaborated.

In addition to considering an MRO center in Vietnam, Hung called on Airbus to support Vietnamese airlines in implementing existing aircraft supply agreements as they expand their fleets and open new routes. He also urged the aircraft maker to work closely with Vietnamese authorities to advance cooperation in the space sector.

The prime minister noted he expected Airbus to help promote France to ratify the EU-Vietnam Investment Protection Agreement (EVIPA).

Hung reaffirmed the Vietnamese government's commitment to improving the business environment and facilitating foreign investment in accordance with Vietnamese law. He expressed confidence that the partnership with Airbus would enter a more substantive and productive phase after 40 years of cooperation.

Wouter van Wersch, for his part, said Vietnam plays an important role in Airbus's global success. Around 230 Airbus aircraft are currently in operation in Vietnam, with another 220 expected to enter service in the coming years, he revealed.

He said Vietnam's continued investment in aviation infrastructure, including Long Thanh and Gia Binh airports, and the development of a broader aviation ecosystem would create significant opportunities for Airbus.

The executive described Vietnam as a top priority for the group, affirming Airbus’s desire to strengthen its long-term partnership with the country beyond aircraft supply, including efforts to build local industry capabilities.

Marking the 40th anniversary of its presence in Vietnam, Airbus reaffirmed its long-term commitment to the country through cooperation in commercial aviation, space and industrial manufacturing, technology transfer, and manpower development. The group also expressed interest in expanding collaboration in digital transformation and artificial intelligence.

The under-construction Gia Binh International Airport project is located in Bac Ninh city, a neighbor of Hanoi. It has a total estimated investment of more than VND196 trillion ($7.51 billion), with phase one requiring approximately VND146.2 trillion ($5.6 billion).

The development will be carried out in two phases. In phase 1, from now to 2027, essential facilities will be completed to serve the APEC Summit in 2027. From 2026-2030, remaining phase 1 works will be finalized to ensure full operational capacity of 30 million passengers and 1.6 million tons of cargo per year.

For phase 2, from 2031-2050, construction will focus on expanding capacity to 50 million passengers and 2.5 million tons of cargo annually.

The Long Thanh International Airport project is located in Dong Nai province, a neighbor of Ho Chi Minh City.

The first passenger flights touched down at Long Thanh airport on December 19, 2025, marking the inaugural civil aviation operation at Vietnam’s largest airport.

Phase one will see the terminal have a capacity of 25 million passengers per year and also handle 1.2 million tons of cargo annually. Phase 2, scheduled by 2035, will expand capacity to 50 million passengers and 1.5 million tons of cargo by adding a second runway and terminal.

In the final phase, Long Thanh is expected to reach full operational capacity of 100 million passengers and five million tons of cargo per year by 2050.

Vietnam's trade surplus widened sharply to $7.31 billion in October, significantly higher than the previous month's level. Two consecutive months of trade surpluses helped narrow the cumulative trade deficit in the first 10 months to $12.07 billion, bolstering expectations that the full-year 2026 deficit could fall below $10 billion.

A turning point for the trade balance

According to the National Statistics Office's report on the socioeconomic situation in October and the first 10 months of 2026, Vietnam's total merchandise trade was preliminarily estimated at $122.03 billion in October, up 3.7% from the previous month and 47.4% year-on-year.

Exports reached $64.67 billion, up 8.7% month-on-month and 51.4% year-on-year, while imports stood at $57.36 billion, down 1.4% from September but still up 43.1% from a year earlier.

The gap between exports and imports resulted in a merchandise trade surplus of $7.31 billion in October, significantly higher than the $1.3 billion recorded in September. This marked Vietnam's second consecutive month of trade surplus, indicating an improvement in the trade balance after several months of deficit.

In the first 10 months, total merchandise trade reached $1,010.55 billion, up 32.3% year-on-year. This was the first time Vietnam's trade turnover had exceeded the $1 trillion mark.

Exports totalled $499.24 billion, up 27.5%, while imports reached $511.31 billion, up 37.4%. As imports grew faster than exports, Vietnam still recorded a merchandise trade deficit of $12.07 billion, compared with a surplus of $19.49 billion in the same period last year.

The surpluses in September and, particularly, the sharp increase in October have therefore helped narrow the cumulative trade deficit considerably. However, this cannot yet be taken as evidence of a sustained reversal in the trade deficit trend, as import growth in the first 10 months remained nearly 10 percentage points higher than export growth.

Trade turnover exceeding $1 trillion reflects a strong expansion in international trade, but also highlights continued high demand for imports serving production, business activities and investment. As a result, the trade balance in the final two months of the year will depend not only on whether export momentum can be sustained but also on the composition and pace of import growth.

A test for the final two months of the year

At the Ministry of Industry and Trade's regular press briefing for the third quarter of 2026, Trinh Thu Hien, deputy director of the Import-Export Department, said the year-end peak export season provided grounds to expect the trade deficit in the final months and for the whole of 2026 to fall below $10 billion.

The forecast was made when the trade deficit in the first nine months remained close to $20 billion. The subsequent surpluses in two consecutive months, particularly October's $7.31 billion surplus, have strengthened the basis for that expectation.

However, for the full-year trade deficit to fall below $10 billion, Vietnam would need to record a net trade surplus of more than $2.07 billion in the final two months, based on the cumulative deficit of $12.07 billion after 10 months.

One favorable factor is the continued strong growth in exports. In October alone, export turnover rose 51.4% year-on-year, while the 10-month figure increased 27.5%. If orders and deliveries remain strong during the year-end peak season, exports will continue to play an important role in narrowing the trade deficit.

On the other hand, import pressures warrant continued monitoring. Import turnover rose 37.4% in the first 10 months, considerably faster than export growth. Although imports fell 1.4% month-on-month in October, they were still up 43.1% year-on-year. This indicates that pressure on the trade balance has not yet fully eased.

However, the trade deficit should not be assessed solely in terms of the size of the surplus or deficit, Nguyen Tuan Viet, CEO of Vietgo, a trade consulting company, told The Investor. He said a trade deficit over a given period could reflect the accumulation of domestic capacity if imports were used for investment, production-line upgrades and technological development.

According to Viet, it is important to distinguish between imports serving production, investment and technology upgrades and those that fail to generate commensurate added value.

"If we want to move fast, we need to import technology and gain access to and apply the world's most advanced technologies," he said.

When translated into new production capabilities, imported resources can lay the foundation for improving product quality and the competitiveness of domestic businesses.

This perspective suggests that improving the trade balance is not simply a matter of reducing imports to achieve a surplus. More important is improving the efficiency of imports, developing domestic production capacity and enabling Vietnamese businesses to participate more deeply in supply chains. These are also prerequisites for export growth to generate greater added value for the economy.

October's sharp increase in the trade surplus has brought Vietnam closer to its goal of keeping the full-year trade deficit below $10 billion, but the final two months will remain a crucial test. Alongside sustaining export momentum, the challenge will be to ensure that imports serving production and technological innovation translate into genuine competitiveness rather than simply expanding trade turnover.